Old Dominion Freight Line, Inc. $ODFL Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.7% during the second quarter, HoldingsChannel reports. The fund owned 52,646 shares of the transportation company’s stock after selling 4,414 shares during the period. Nisa Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $8,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after acquiring an additional 416,097 shares during the period. Invesco Ltd. grew its holdings in Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after acquiring an additional 53,079 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after acquiring an additional 1,151,221 shares during the period. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after acquiring an additional 754,796 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Old Dominion Freight Line by 11.4% during the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock worth $232,955,000 after acquiring an additional 145,058 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ODFL. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Monday, August 4th. Morgan Stanley lowered their target price on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. UBS Group upped their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. The Goldman Sachs Group lowered their target price on Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $161.90.

Old Dominion Freight Line Stock Up 0.4%

Shares of NASDAQ:ODFL opened at $136.73 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26. The stock’s fifty day simple moving average is $144.15 and its 200-day simple moving average is $153.96. The company has a market capitalization of $28.74 billion, a P/E ratio of 26.71, a P/E/G ratio of 3.22 and a beta of 1.19.

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

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 21.88%.

Old Dominion Freight Line 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.