Vontobel Holding Ltd. Lowers Holdings in Old Dominion Freight Line, Inc. $ODFL

Vontobel Holding Ltd. decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 39.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,076 shares of the transportation company’s stock after selling 4,624 shares during the quarter. Vontobel Holding Ltd.’s holdings in Old Dominion Freight Line were worth $1,148,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ODFL. T. Rowe Price Investment Management Inc. boosted its stake in shares of Old Dominion Freight Line by 79.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after buying an additional 1,151,221 shares during the last quarter. Nuveen LLC purchased a new position in Old Dominion Freight Line during the first quarter worth approximately $151,107,000. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares in the last quarter. Vanguard Group Inc. boosted its position in Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in Old Dominion Freight Line by 4,463.2% during the first quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company’s stock worth $43,253,000 after purchasing an additional 255,652 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ODFL. Jefferies Financial Group lowered their price target on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Evercore ISI lowered their price target on 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. Stephens lowered their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock 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 stock a “neutral” rating in a research report on Monday, August 4th. Finally, Raymond James Financial lowered their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $164.09.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $134.31 on Monday. The company has a market cap of $28.23 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.15 and a beta of 1.19. The stock’s 50 day simple moving average is $146.39 and its 200-day simple moving average is $155.61. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26. 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 released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business earned $1.48 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

About Old Dominion Freight Line

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.