Citizens Financial Group Inc. RI Takes Position in Old Dominion Freight Line, Inc. $ODFL

Citizens Financial Group Inc. RI bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,808 shares of the transportation company’s stock, valued at approximately $825,000.

A number of other institutional investors have also recently added to or reduced their stakes in ODFL. AustralianSuper Pty Ltd lifted its stake in Old Dominion Freight Line by 955.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after buying an additional 67,898 shares in the last quarter. Summitry LLC boosted its holdings in Old Dominion Freight Line by 5.4% in the 4th quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock worth $34,210,000 after buying an additional 11,223 shares during the last quarter. Partners Group Holding AG increased its stake in Old Dominion Freight Line by 37.0% during the 4th quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock worth $30,518,000 after buying an additional 52,514 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Old Dominion Freight Line by 76.3% during the fourth quarter. M&T Bank Corp now owns 15,204 shares of the transportation company’s stock valued at $2,384,000 after acquiring an additional 6,582 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Old Dominion Freight Line by 15,188.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 407,885 shares of the transportation company’s stock valued at $63,956,000 after acquiring an additional 405,217 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $241.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a research note on Monday, July 13th. Wells Fargo & Company upgraded shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their target price for the company from $235.00 to $250.00 in a research report on Wednesday, July 8th. Finally, TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $208.00 on Wednesday. The firm has a 50 day simple moving average of $222.47 and a 200-day simple moving average of $210.03. The stock has a market cap of $43.13 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 3.67 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company earned $1.27 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.35%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.