Oliver Lagore Vanvalin Investment Group Acquires New Position in Old Dominion Freight Line, Inc. $ODFL

Oliver Lagore Vanvalin Investment Group purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,778 shares of the transportation company’s stock, valued at approximately $1,287,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. Brighton Jones LLC raised its holdings in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares during the last quarter. Tidal Investments LLC raised its stake in Old Dominion Freight Line by 10.3% in the 4th quarter. Tidal Investments LLC now owns 10,010 shares of the transportation company’s stock worth $1,766,000 after acquiring an additional 932 shares during the last quarter. Squarepoint Ops LLC raised its stake in Old Dominion Freight Line by 104.6% in the 4th quarter. Squarepoint Ops LLC now owns 37,162 shares of the transportation company’s stock worth $6,555,000 after acquiring an additional 19,001 shares during the last quarter. Waverly Advisors LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth $504,000. Finally, Novem Group purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $659,000. 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 $142.39 on Friday. Old Dominion Freight Line, Inc. has a one year low of $140.71 and a one year high of $233.26. The firm has a fifty day moving average of $152.96 and a 200 day moving average of $158.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $29.93 billion, a PE ratio of 27.81, a PEG ratio of 3.29 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the firm posted $1.48 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS 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 $0.28 dividend. 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 dividend payout ratio is 21.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 8th. Truist Financial raised their price target on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. TD Cowen reduced their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research report on Thursday, July 31st. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $166.95.

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.