913,311 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has made a significant investment in Old Dominion Freight Line, purchasing 913,311 shares valued at approximately $151.11 million, representing a 0.43% stake in the company.
• The company's recent earnings report showed a quarterly EPS of $1.27, missing estimates by $0.02, with revenue decreasing by 6.1% year-over-year.
• Old Dominion Freight Line has declared a quarterly dividend of $0.28 per share, set to be paid on September 17th, with a current annualized dividend yield of 0.8%.

Nuveen LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 913,311 shares of the transportation company's stock, valued at approximately $151,107,000. Nuveen LLC owned 0.43% of Old Dominion Freight Line as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company's stock valued at $706,841,000 after buying an additional 53,079 shares during the period. Fiduciary Family Office LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $224,000. Benjamin Edwards Inc. raised its position in Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company's stock valued at $392,000 after purchasing an additional 71 shares during the period. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after acquiring an additional 754,796 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth $342,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. Truist Financial upped their price objective on 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. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research report on Thursday, July 31st. UBS Group lowered their target price on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Stephens lowered their target price on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded up $0.03 during mid-day trading on Friday, reaching $151.14. The company had a trading volume of 1,499,454 shares, compared to its average volume of 2,113,293. The stock's 50-day simple moving average is $159.51 and its 200-day simple moving average is $165.81. The company has a market capitalization of $31.77 billion, a P/E ratio of 29.52, a P/E/G ratio of 3.48 and a beta of 1.24. Old Dominion Freight Line, Inc. has a 1 year low of $140.91 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

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.