Litman Gregory Wealth Management LLC Acquires 3,638 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Litman Gregory Wealth Management LLC increased its holdings in Old Dominion Freight Line by 11.7%, acquiring an additional 3,638 shares, bringing their total to 34,713 shares valued at approximately $5.63 million.
• The company recently posted its quarterly earnings, reporting $1.27 earnings per share, missing the consensus estimate by $0.02, with a revenue of $1.41 billion.
• Old Dominion Freight Line has a consensus target price among analysts of $166.52, with a mix of Buy, Hold, and Sell ratings, reflecting a cautious outlook for the stock.

Litman Gregory Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,713 shares of the transportation company's stock after buying an additional 3,638 shares during the quarter. Litman Gregory Wealth Management LLC's holdings in Old Dominion Freight Line were worth $5,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its stake in Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock valued at $430,006,000 after purchasing an additional 1,151,221 shares during the last quarter. Nuveen LLC bought a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $151,107,000. JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Vanguard Group Inc. raised its position in shares of Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock valued at $3,750,157,000 after buying an additional 416,097 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Old Dominion Freight Line by 4,463.2% in the first quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company's stock valued at $43,253,000 after buying an additional 255,652 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

ODFL opened at $141.33 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $29.70 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 3.30 and a beta of 1.19. The company's 50 day simple moving average is $147.58 and its 200-day simple moving average is $156.57. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. Truist Financial boosted their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Vertical Research upgraded Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Thursday, July 31st. UBS Group raised their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a "neutral" rating in a research report on Friday. Susquehanna boosted their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Finally, Evercore ISI reduced their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating for the company in a report on Tuesday, September 30th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $166.52.

Old Dominion Freight Line 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.