Wealthspire Advisors LLC Decreases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wealthspire Advisors LLC cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 913 shares of the transportation company’s stock after selling 435 shares during the quarter. Wealthspire Advisors LLC’s holdings in Old Dominion Freight Line were worth $232,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings in Old Dominion Freight Line by 9.8% during the second quarter. BlackRock Inc. now owns 9,673,939 shares of the transportation company’s stock worth $2,455,248,000 after purchasing an additional 865,667 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Old Dominion Freight Line by 31.0% during the second quarter. JPMorgan Chase & Co. now owns 2,389,432 shares of the transportation company’s stock worth $606,437,000 after purchasing an additional 565,063 shares during the last quarter. Geode Capital Management LLC raised its holdings in Old Dominion Freight Line by 6.8% during the second quarter. Geode Capital Management LLC now owns 1,849,264 shares of the transportation company’s stock worth $468,155,000 after purchasing an additional 117,844 shares during the last quarter. WCM Investment Management LLC raised its holdings in Old Dominion Freight Line by 48.0% during the second quarter. WCM Investment Management LLC now owns 1,699,544 shares of the transportation company’s stock worth $431,344,000 after purchasing an additional 551,348 shares during the last quarter. Finally, London Co. of Virginia raised its holdings in Old Dominion Freight Line by 12.7% during the first quarter. London Co. of Virginia now owns 1,174,763 shares of the transportation company’s stock worth $282,424,000 after purchasing an additional 132,698 shares during the last quarter. Hedge funds and other institutional investors own 70.11% of the company’s stock.

Shares of NASDAQ ODFL opened at $284.77 on Thursday. Old Dominion Freight Line, Inc. has a 1-year low of $185.20 and a 1-year high of $304.22. The business has a 50-day moving average of $288.38 and a 200-day moving average of $267.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 1.52 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 28th. The transportation company reported $2.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.14. Old Dominion Freight Line had a return on equity of 26.30% and a net margin of 18.80%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. Research analysts expect that Old Dominion Freight Line, Inc. will post 8.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Tuesday, August 31st. Old Dominion Freight Line’s dividend payout ratio (DPR) is 14.08%.

Several equities analysts recently issued reports on ODFL shares. KeyCorp lifted their price objective on Old Dominion Freight Line from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, September 2nd. Morgan Stanley boosted their price target on Old Dominion Freight Line from $292.00 to $315.00 and gave the stock an “overweight” rating in a report on Monday, October 4th. Stifel Nicolaus assumed coverage on Old Dominion Freight Line in a report on Monday, June 21st. They issued a “hold” rating for the company. Citigroup boosted their price target on Old Dominion Freight Line from $280.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, October 7th. Finally, Evercore ISI reissued a “buy” rating and issued a $298.00 price target on shares of Old Dominion Freight Line in a report on Friday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $260.16.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

Featured Article: What Are Cryptocurrencies?

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.