TD Asset Management Inc Sells 20,702 Shares of Old Dominion Freight Line, Inc. $ODFL

TD Asset Management Inc lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 714,569 shares of the transportation company’s stock after selling 20,702 shares during the period. TD Asset Management Inc owned approximately 0.34% of Old Dominion Freight Line worth $115,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after acquiring an additional 416,097 shares in the last quarter. 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 valued at $706,841,000 after acquiring an additional 53,079 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake 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 valued at $430,006,000 after acquiring an additional 1,151,221 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 valued at $402,002,000 after acquiring an additional 754,796 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake 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 valued at $232,955,000 after acquiring an additional 145,058 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.6%

Shares of ODFL stock opened at $135.43 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26. The stock’s fifty day moving average price is $145.99 and its 200 day moving average price is $155.28. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were 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 was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is 21.88%.

Analysts Set New Price Targets

ODFL has been the subject of several research analyst reports. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Barclays reduced their price objective 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. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a report on Thursday, July 31st. TD Cowen cut their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a report on Thursday, July 31st. Finally, Stephens cut their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $163.86.

About Old Dominion Freight Line

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.