Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its holdings in Old Dominion Freight Line, acquiring an additional 86,286 shares during the second quarter, bringing its total to 103,881 shares valued at $17.77 million.
• Old Dominion Freight Line reported $1.27 earnings per share for the last quarter, missing analyst estimates of $1.29, and experienced a 6.1% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.28 per share, equating to an annualized yield of 0.8%, and has a payout ratio of approximately 21.88%.

Wealth Enhancement Advisory Services LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 490.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,881 shares of the transportation company's stock after acquiring an additional 86,286 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Old Dominion Freight Line were worth $17,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ODFL. Brighton Jones LLC grew its stake in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Old Dominion Freight Line by 10.3% during the fourth quarter. Tidal Investments LLC now owns 10,010 shares of the transportation company's stock worth $1,766,000 after purchasing an additional 932 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Old Dominion Freight Line by 104.6% during the fourth quarter. Squarepoint Ops LLC now owns 37,162 shares of the transportation company's stock worth $6,555,000 after purchasing an additional 19,001 shares in the last quarter. Waverly Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $504,000. Finally, Vise Technologies Inc. grew its stake in shares of Old Dominion Freight Line by 38.0% during the fourth quarter. Vise Technologies Inc. now owns 2,963 shares of the transportation company's stock worth $523,000 after purchasing an additional 816 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 1.1%

Shares of Old Dominion Freight Line stock opened at $140.84 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $140.09 and a 52-week high of $233.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The company's 50-day simple moving average is $152.42 and its 200-day simple moving average is $158.56. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 3.27 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The company's revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.88%.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. 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. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a research note on Monday, August 4th. Benchmark reiterated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Finally, Stifel Nicolaus reduced their price target on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $166.95.

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.

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