Hsbc Holdings PLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398,981 shares of the transportation company's stock after buying an additional 37,789 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of Old Dominion Freight Line worth $86,248,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth about $3,416,007,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company's stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares during the last quarter. State Street Corp raised its position in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company's stock worth $1,214,618,000 after acquiring an additional 70,736 shares in the last quarter. Boston Partners raised its position in shares of Old Dominion Freight Line by 98.4% during the 4th quarter. Boston Partners now owns 4,122,696 shares of the transportation company's stock worth $648,186,000 after acquiring an additional 2,044,434 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company's stock worth $577,137,000 after purchasing an additional 365,424 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.
Old Dominion Freight Line Price Performance
ODFL opened at $185.87 on Monday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03. The business's 50 day moving average is $214.60 and its two-hundred day moving average is $210.52. The firm has a market cap of $38.54 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company's revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line's dividend payout ratio is currently 22.35%.
Analysts Set New Price Targets
ODFL has been the subject of a number of research analyst reports. Rothschild & Co Redburn lowered their price target on Old Dominion Freight Line from $176.00 to $172.00 and set a "sell" rating for the company in a report on Tuesday, May 12th. BMO Capital Markets restated an "outperform" rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Truist Financial upped their target price on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Evercore reaffirmed an "outperform" rating and issued a $243.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Finally, Stifel Nicolaus set a $263.00 target price on shares of Old Dominion Freight Line and gave the company a "buy" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $226.55.
Get Our Latest Stock Report on Old Dominion Freight Line
Insiders Place Their Bets
In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total value of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by corporate insiders.
About Old Dominion Freight Line
(
Free Report)
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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