EP Wealth Advisors LLC Makes New Investment in Old Dominion Freight Line, Inc. $ODFL

EP Wealth Advisors LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,791 shares of the transportation company's stock, valued at approximately $3,204,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ODFL. Brighton Jones LLC lifted its stake in 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 valued at $275,000 after purchasing an additional 79 shares during the last quarter. Empowered Funds LLC increased its position in Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company's stock worth $1,690,000 after buying an additional 5,866 shares during the last quarter. Marshall Wace LLP purchased a new stake in Old Dominion Freight Line in the second quarter worth $7,478,000. Jump Financial LLC bought a new stake in shares of Old Dominion Freight Line in the second quarter valued at $2,891,000. Finally, AXA S.A. raised its stake in shares of Old Dominion Freight Line by 1.2% in the second quarter. AXA S.A. now owns 20,253 shares of the transportation company's stock valued at $3,287,000 after buying an additional 238 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $206.47 on Friday. The company's fifty day simple moving average is $220.21 and its two-hundred day simple moving average is $210.45. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 3.59 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business posted $1.27 earnings per share. The business's quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line's payout ratio is presently 22.35%.

Analyst Ratings Changes

A number of research analysts have recently commented on ODFL shares. Stifel Nicolaus set a $263.00 price target on Old Dominion Freight Line and gave the company a "buy" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a "neutral" rating in a report on Monday, June 8th. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Morgan Stanley reaffirmed an "equal weight" rating and set a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $226.55.

Old Dominion Freight Line Company 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.

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