Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Ascent Group LLC

Ascent Group LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 79.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,680 shares of the transportation company’s stock after acquiring an additional 1,185 shares during the period. Ascent Group LLC’s holdings in Old Dominion Freight Line were worth $443,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ODFL. Larson Financial Group LLC increased its stake in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the period. American National Bank & Trust acquired a new position in Old Dominion Freight Line during the 1st quarter valued at about $30,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the 1st quarter valued at about $39,000. Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line during the 1st quarter valued at about $39,000. Finally, Olde Wealth Management LLC acquired a new position in Old Dominion Freight Line during the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ODFL. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Baird R W raised shares of Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Bank of America raised their target price on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Stephens lowered their target price on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Truist Financial raised their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $167.14.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $146.31 on Thursday. Old Dominion Freight Line, Inc. has a one year low of $140.71 and a one year high of $233.26. The company has a 50-day moving average of $155.80 and a two-hundred day moving average of $160.23. The stock has a market cap of $30.75 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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 during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts expect 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 will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

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.