Brighton Jones LLC Acquires 159 Shares of Old Dominion Freight Line, Inc. $ODFL

Brighton Jones LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,713 shares of the transportation company’s stock after buying an additional 159 shares during the quarter. Brighton Jones LLC’s holdings in Old Dominion Freight Line were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ODFL. Larson Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line in the first quarter valued at $39,000. Zions Bancorporation National Association UT bought a new stake in shares of Old Dominion Freight Line in the first quarter valued at $39,000. Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line in the first quarter valued at $43,000. Finally, WPG Advisers LLC bought a new stake in shares of Old Dominion Freight Line in the first quarter valued at $51,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Up 2.3%

Shares of ODFL opened at $140.42 on Friday. The firm has a market cap of $29.51 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.22 and a beta of 1.19. The stock has a 50 day simple moving average of $142.87 and a two-hundred day simple moving average of $153.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26.

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

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 21.88%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of Old Dominion Freight Line in a report on Thursday. Vertical Research raised 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. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday. Stephens reduced their target price on Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $159.33.

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.