Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Old Dominion Freight Line by 9.9%, bringing its total holdings to 49,855 shares valued at approximately $8.25 million.
• Analysts have varied target prices for Old Dominion Freight Line, with estimates ranging from $148.00 to $180.00, resulting in a consensus rating of "Hold".
• The company reported a quarterly earnings miss with an EPS of $1.27, falling short of expectations, and announced a quarterly dividend of $0.28, representing a yield of 0.7%.

Nissay Asset Management Corp Japan ADV boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 49,855 shares of the transportation company's stock after acquiring an additional 4,511 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Old Dominion Freight Line were worth $8,249,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eventide Asset Management LLC grew its stake in Old Dominion Freight Line by 8.1% in the 1st quarter. Eventide Asset Management LLC now owns 576,488 shares of the transportation company's stock valued at $95,375,000 after acquiring an additional 43,228 shares during the period. Alliancebernstein L.P. lifted its holdings in Old Dominion Freight Line by 15.0% in the 1st quarter. Alliancebernstein L.P. now owns 245,648 shares of the transportation company's stock valued at $40,642,000 after purchasing an additional 32,010 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in Old Dominion Freight Line by 596.3% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 38,135 shares of the transportation company's stock worth $6,309,000 after purchasing an additional 32,658 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in Old Dominion Freight Line during the 1st quarter worth $441,000. Finally, Calton & Associates Inc. boosted its stake in Old Dominion Freight Line by 25.6% during the 1st quarter. Calton & Associates Inc. now owns 1,790 shares of the transportation company's stock worth $296,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ODFL. TD Cowen lowered their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Stephens lowered their target price on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Truist Financial lifted their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, 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. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Stock Up 1.3%

NASDAQ ODFL opened at $150.71 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $140.71 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 business's fifty day simple moving average is $156.90 and its 200-day simple moving average is $160.87. The firm has a market cap of $31.67 billion, a PE ratio of 29.44, a P/E/G ratio of 3.49 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly 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 company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The firm's revenue was down 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.88%.

About Old Dominion Freight Line

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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