First Trust Advisors LP Increases Stock Position in Old Dominion Freight Line (NASDAQ:ODFL)

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First Trust Advisors LP boosted its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 23.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,529 shares of the transportation company’s stock after acquiring an additional 28,174 shares during the period. First Trust Advisors LP owned about 0.12% of Old Dominion Freight Line worth $19,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ODFL. BlackRock Inc. raised its holdings in shares of Old Dominion Freight Line by 53.6% in the first quarter. BlackRock Inc. now owns 6,550,218 shares of the transportation company’s stock valued at $859,784,000 after buying an additional 2,284,461 shares during the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $137,947,000. Alpha Omega Wealth Management LLC grew its position in shares of Old Dominion Freight Line by 48.8% in the first quarter. Alpha Omega Wealth Management LLC now owns 1,824,519 shares of the transportation company’s stock valued at $239,486,000 after purchasing an additional 598,185 shares during the last quarter. State Street Corp grew its position in shares of Old Dominion Freight Line by 22.6% in the fourth quarter. State Street Corp now owns 2,685,768 shares of the transportation company’s stock valued at $509,705,000 after purchasing an additional 495,064 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Old Dominion Freight Line by 146.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 631,559 shares of the transportation company’s stock valued at $82,898,000 after buying an additional 375,480 shares during the period. 57.39% of the stock is owned by hedge funds and other institutional investors.

Shares of ODFL stock opened at $155.91 on Friday. The company’s fifty day simple moving average is $140.93 and its 200-day simple moving average is $180.19. Old Dominion Freight Line has a 52 week low of $87.25 and a 52 week high of $158.47. The company has a market cap of $18.09 billion, a PE ratio of 30.47, a P/E/G ratio of 3.54 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, April 23rd. The transportation company reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.01). Old Dominion Freight Line had a net margin of 14.99% and a return on equity of 20.85%. The business had revenue of $987.36 million during the quarter, compared to analysts’ expectations of $982.15 million. During the same period in the prior year, the business posted $1.64 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Old Dominion Freight Line will post 4.57 earnings per share for the current fiscal year.

ODFL has been the topic of several recent analyst reports. KeyCorp upped their price objective on shares of Old Dominion Freight Line from $147.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Citigroup reduced their price objective on shares of Old Dominion Freight Line from $132.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Stephens upped their price objective on shares of Old Dominion Freight Line from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and upped their price objective for the company from $102.00 to $103.33 in a research note on Friday, March 20th. Finally, Credit Suisse Group increased their price target on shares of Old Dominion Freight Line from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $130.29.

Old Dominion Freight Line Profile

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

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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