Profund Advisors LLC Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

Profund Advisors LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,057 shares of the transportation company’s stock after buying an additional 2,296 shares during the quarter. Profund Advisors LLC’s holdings in Old Dominion Freight Line were worth $2,931,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ODFL. Vanguard Group Inc. lifted its position 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 worth $3,750,157,000 after acquiring an additional 416,097 shares during the period. Invesco Ltd. raised its stake 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. lifted 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 period. JPMorgan Chase & Co. grew its position in Old Dominion Freight Line by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after buying an additional 754,796 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Old Dominion Freight Line by 11.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock valued at $232,955,000 after buying an additional 145,058 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. UBS Group raised their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Stifel Nicolaus dropped their target price on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a report on Tuesday, October 28th. Barclays lowered their price target on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Finally, Jefferies Financial Group dropped their price target on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $139.90 on Monday. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The company’s 50-day moving average is $141.53 and its two-hundred day moving average is $153.07. 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 posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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

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.