PDS Planning Inc Boosts Stake in Old Dominion Freight Line, Inc. $ODFL

PDS Planning Inc raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 21.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,605 shares of the transportation company’s stock after purchasing an additional 284 shares during the period. PDS Planning Inc’s holdings in Old Dominion Freight Line were worth $260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Brighton Jones LLC increased its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after buying an additional 79 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after purchasing an additional 1,018 shares during the last quarter. Simon Quick Advisors LLC increased its stake in shares of Old Dominion Freight Line by 16.1% during the 1st quarter. Simon Quick Advisors LLC now owns 1,766 shares of the transportation company’s stock worth $292,000 after purchasing an additional 245 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Old Dominion Freight Line by 1.4% during the 1st quarter. Fifth Third Bancorp now owns 8,682 shares of the transportation company’s stock worth $1,436,000 after purchasing an additional 118 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC increased its stake in shares of Old Dominion Freight Line by 14.5% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 5,688 shares of the transportation company’s stock worth $941,000 after purchasing an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 4.9%

ODFL opened at $134.31 on Monday. The company has a 50 day moving average of $146.39 and a 200 day moving average of $155.61. The company has a market cap of $28.23 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.15 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 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 firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were 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 was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. TD Cowen decreased their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. Barclays decreased their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $164.09.

Old Dominion Freight Line Company 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.