Verdence Capital Advisors LLC Has $804,000 Position in Old Dominion Freight Line, Inc. $ODFL

Verdence Capital Advisors LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.2% in the second quarter, HoldingsChannel.com reports. The fund owned 4,953 shares of the transportation company’s stock after selling 216 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Old Dominion Freight Line were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Benjamin Edwards Inc. boosted its position in shares of Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after purchasing an additional 71 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its position in shares of Old Dominion Freight Line by 5.4% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company’s stock worth $258,000 after purchasing an additional 80 shares in the last quarter. Grimes & Company Inc. boosted its position in shares of Old Dominion Freight Line by 6.5% during the 2nd quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company’s stock worth $236,000 after purchasing an additional 88 shares in the last quarter. Finally, Triumph Capital Management boosted its position in shares of Old Dominion Freight Line by 7.0% during the 2nd quarter. Triumph Capital Management now owns 1,357 shares of the transportation company’s stock worth $220,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $135.43 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $233.26. The company’s 50 day moving average price is $145.99 and its two-hundred day moving average price is $155.28. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market cap of $28.46 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.19 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its 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 return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business earned $1.48 EPS. Old Dominion Freight Line’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Wolfe Research raised their price target on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. Citigroup dropped their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Finally, Baird R W raised shares of Old Dominion Freight Line to a “hold” rating in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $163.86.

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.