Focus Partners Advisor Solutions LLC Makes New $738,000 Investment in Old Dominion Freight Line, Inc. $ODFL

Focus Partners Advisor Solutions LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,388 shares of the transportation company’s stock, valued at approximately $738,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $444,983,000. Boston Partners acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $292,599,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after purchasing an additional 1,761,511 shares during the period. Two Sigma Investments LP increased its holdings in Old Dominion Freight Line by 637.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after buying an additional 1,362,697 shares during the period. Finally, Life Cycle Investment Partners Ltd purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $188,651,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $211.96 on Tuesday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03. The stock has a 50-day moving average of $223.29 and a two-hundred day moving average of $209.78. The company has a market cap of $43.95 billion, a P/E ratio of 40.84, a P/E/G ratio of 3.67 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $244.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Stephens restated an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Rothschild & Co Redburn decreased their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a research note on Tuesday, May 12th. Finally, Evercore reissued an “outperform” rating and set a $243.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $226.55.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.