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Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Envestnet Asset Management Inc.

Old Dominion Freight Line logo with Transportation background

Envestnet Asset Management Inc. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 417,481 shares of the transportation company's stock after acquiring an additional 10,110 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of Old Dominion Freight Line worth $69,072,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ODFL. American National Bank & Trust purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth about $30,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the first quarter valued at approximately $39,000. Itau Unibanco Holding S.A. grew its stake in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 192 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $51,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $167.73 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $35.44 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.25. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26. The business has a 50 day simple moving average of $163.56 and a 200-day simple moving average of $170.70.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Bank of America raised their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Truist Financial upped their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, UBS Group dropped their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $174.45.

View Our Latest Stock Report on ODFL

Old Dominion Freight Line Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report).

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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.

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