Wealthfront Advisers LLC Grows Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Wealthfront Advisers LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 58.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,235 shares of the transportation company’s stock after acquiring an additional 16,007 shares during the quarter. Wealthfront Advisers LLC’s holdings in Old Dominion Freight Line were worth $7,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after purchasing an additional 108 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $39,000. Wayfinding Financial LLC purchased a new position in Old Dominion Freight Line during the first quarter valued at approximately $39,000. Olde Wealth Management LLC bought a new stake in Old Dominion Freight Line during the 1st quarter worth approximately $43,000. Finally, WPG Advisers LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.4%

Shares of ODFL opened at $136.73 on Tuesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The firm has a market cap of $28.74 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.22 and a beta of 1.19. The firm has a 50 day moving average price of $144.15 and a 200-day moving average price of $153.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

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

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is 21.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a research report on Thursday, July 31st. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. Evercore ISI cut their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a report on Tuesday, September 30th. Finally, TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research report on Thursday, July 31st. Eight investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $161.90.

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.