Vestmark Advisory Solutions Inc. Decreases Stock Position in Old Dominion Freight Line, Inc. $ODFL

Vestmark Advisory Solutions Inc. reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 52.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,663 shares of the transportation company’s stock after selling 1,849 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Old Dominion Freight Line were worth $270,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after acquiring an additional 108 shares during the period. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $28,000. Zions Bancorporation National Association UT acquired a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $39,000. Chilton Capital Management LLC acquired a new position in Old Dominion Freight Line during the 2nd quarter worth $47,000. Finally, WPG Advisers LLC bought a new position in Old Dominion Freight Line during the first quarter worth $51,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ODFL shares. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. TD Cowen reduced their target price on Old Dominion Freight Line from $159.00 to $154.00 in a report on Thursday, October 30th. UBS Group increased their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $143.00 to $144.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $138.76 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $140.87 and a 200 day moving average price of $152.77. The firm has a market capitalization of $29.01 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $228.72.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

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.