Janney Montgomery Scott LLC Has $15.05 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Janney Montgomery Scott LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,953 shares of the transportation company's stock after buying an additional 4,252 shares during the period. Janney Montgomery Scott LLC's holdings in Old Dominion Freight Line were worth $15,048,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after buying an additional 96,410 shares during the period. Norges Bank acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $494,916,000. Capital World Investors increased its position in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after acquiring an additional 27,367 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Old Dominion Freight Line by 15.2% during the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after acquiring an additional 261,305 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Old Dominion Freight Line by 13.6% during the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after acquiring an additional 185,500 shares during the period. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of research analyst reports. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. Truist Financial cut their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $176.10.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded up $0.56 on Friday, reaching $156.59. The stock had a trading volume of 499,768 shares, compared to its average volume of 1,632,887. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 3.21 and a beta of 1.26. The firm's 50-day moving average is $159.38 and its two-hundred day moving average is $174.34. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

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.