Pittenger & Anderson Inc. Reduces Holdings in Old Dominion Freight Line, Inc. $ODFL

Pittenger & Anderson Inc. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 82.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,082 shares of the transportation company’s stock after selling 5,232 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Old Dominion Freight Line were worth $176,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after buying an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Old Dominion Freight Line by 9.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock worth $2,911,000 after buying an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Old Dominion Freight Line by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock worth $1,507,000 after buying an additional 443 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock worth $395,000 after buying an additional 537 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC grew its holdings in shares of Old Dominion Freight Line by 6.0% during the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock worth $17,839,000 after buying an additional 6,133 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $144.36 on Wednesday. The business’s 50 day simple moving average is $145.28 and its 200-day simple moving average is $154.48. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.33 and a beta of 1.19. 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, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly 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). The firm had revenue of $1.41 billion for 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 was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. As a group, equities analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid 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 payout ratio is 21.88%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ODFL. Wolfe Research raised their price target on Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Thursday, July 31st. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a report on Thursday, July 31st. Evercore ISI lowered their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, Truist Financial lifted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 30th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $163.86.

Old Dominion Freight Line Company 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.