Deutsche Bank AG Takes Position in Old Dominion Freight Line, Inc. $ODFL

Deutsche Bank AG acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, Holdings Channel reports. The fund acquired 714,936 shares of the transportation company’s stock, valued at approximately $154,855,000.

A number of other institutional investors also recently bought and sold shares of the stock. Bell Investment Advisors Inc purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the period. Reflection Asset Management acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $28,000. Evolution Wealth Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the first quarter valued at $29,000. Finally, DT Investment Partners LLC increased its position in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ODFL. The Goldman Sachs Group reaffirmed 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. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Rothschild & Co Redburn decreased their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company raised shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $226.55.

Old Dominion Freight Line Stock Down 1.4%

Shares of ODFL opened at $205.08 on Thursday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03. The company has a market capitalization of $42.53 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 3.61 and a beta of 1.18. The stock’s 50-day moving average price is $221.86 and its 200-day moving average price is $210.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. As a group, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

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.