Focus Partners Advisor Solutions LLC Reduces Stake in Old Dominion Freight Line, Inc. $ODFL

Focus Partners Advisor Solutions LLC reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,775 shares of the transportation company’s stock after selling 891 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Old Dominion Freight Line were worth $288,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after buying an additional 416,097 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of 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 purchasing an additional 53,079 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 1,151,221 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 purchasing an additional 754,796 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of 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 purchasing an additional 145,058 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 2.3%

Shares of NASDAQ ODFL opened at $140.42 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26. The firm has a market cap of $29.51 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20. The stock’s 50-day simple moving average is $142.87 and its 200-day simple moving average is $153.49.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. As a group, equities analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several analyst reports. Citigroup decreased their price objective on Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group decreased their price objective on Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a report on Thursday. TD Cowen decreased their price objective on Old Dominion Freight Line from $159.00 to $154.00 in a report on Thursday. Finally, Stephens dropped their price objective on Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $159.33.

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.