XTX Topco Ltd Purchases 2,646 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• XTX Topco Ltd increased its stake in Old Dominion Freight Line by 126.8% during Q1, acquiring an additional 2,646 shares, bringing its total holdings to 4,732 shares valued at approximately $783,000.
• Old Dominion Freight Line reported Q2 earnings that missed expectations, posting $1.27 per share against a consensus estimate of $1.29, with revenue declining 6.1% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, with an annualized yield of 0.8%, scheduled for payment on September 17th to shareholders of record on September 3rd.

XTX Topco Ltd lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 126.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,732 shares of the transportation company's stock after buying an additional 2,646 shares during the period. XTX Topco Ltd's holdings in Old Dominion Freight Line were worth $783,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after buying an additional 108 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $30,000. Itau Unibanco Holding S.A. increased its position in shares of Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 192 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $39,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $43,000. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the subject of a number of research reports. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Evercore ISI lowered their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Monday. Truist Financial increased their target price 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, Susquehanna lowered their target price on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $167.62.

Old Dominion Freight Line Stock Performance

ODFL stock traded down $0.59 during mid-day trading on Friday, hitting $144.74. 868,303 shares of the company were exchanged, compared to its average volume of 1,844,674. The business has a 50 day simple moving average of $160.95 and a 200-day simple moving average of $167.57. The company has a current ratio of 1.38, a quick ratio of 1.32 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $30.59 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 3.45 and a beta of 1.24. Old Dominion Freight Line, Inc. has a 1-year low of $141.73 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its 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). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts forecast 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 will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

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.