Concurrent Investment Advisors LLC Boosts Stake in Old Dominion Freight Line, Inc. $ODFL

Concurrent Investment Advisors LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,157 shares of the transportation company’s stock after purchasing an additional 416 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Old Dominion Freight Line by 48.7% in the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock valued at $514,000 after purchasing an additional 1,018 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Old Dominion Freight Line by 9.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock valued at $2,911,000 after purchasing an additional 1,529 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Old Dominion Freight Line by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock valued at $1,507,000 after purchasing an additional 443 shares during the period. Golden State Wealth Management LLC raised its position in Old Dominion Freight Line by 29.0% in the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock valued at $395,000 after purchasing an additional 537 shares during the period. Finally, Wilkinson Global Asset Management LLC raised its position in Old Dominion Freight Line by 6.0% in the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock valued at $17,839,000 after purchasing an additional 6,133 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the topic of a number of research analyst reports. TD Cowen reduced their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group dropped their price objective on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Citigroup dropped their price objective on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Thursday, July 31st. Finally, Truist Financial lifted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $163.86.

Old Dominion Freight Line Trading Down 0.0%

Shares of NASDAQ ODFL opened at $138.04 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The stock has a market capitalization of $29.01 billion, a PE ratio of 26.96, a PEG ratio of 3.26 and a beta of 1.19. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $145.42 and a 200-day simple moving average of $154.75.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is presently 21.88%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.