Prospera Financial Services Inc Buys Shares of 7,922 Old Dominion Freight Line, Inc. $ODFL

Prospera Financial Services Inc purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,922 shares of the transportation company’s stock, valued at approximately $1,286,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake 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. Nuveen LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $151,107,000. JPMorgan Chase & Co. raised its position in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Old Dominion Freight Line by 2,744.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 193,199 shares of the transportation company’s stock worth $31,356,000 after purchasing an additional 186,407 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI lowered their price objective on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $159.33.

Old Dominion Freight Line Stock Down 0.5%

Old Dominion Freight Line stock opened at $138.85 on Thursday. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $228.72. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.22 and a beta of 1.22. The company’s 50-day moving average price is $140.87 and its two-hundred day moving average price is $152.77. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

About Old Dominion Freight Line

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.