Oliver Lagore Vanvalin Investment Group Purchases New Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Oliver Lagore Vanvalin Investment Group recently acquired 7,778 shares of Old Dominion Freight Line, valued at approximately $1.287 million, indicating growing institutional interest in the company.
• Old Dominion Freight Line reported second-quarter earnings of $1.27 per share, missing estimates, with revenue of $1.41 billion, down 6.1% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, resulting in an annualized yield of 0.8% and a payout ratio of 21.88%.

Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,778 shares of the transportation company's stock, valued at approximately $1,287,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after purchasing an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Old Dominion Freight Line by 9.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock worth $2,911,000 after purchasing an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 5.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock worth $1,507,000 after purchasing an additional 443 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Old Dominion Freight Line by 29.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock worth $395,000 after purchasing an additional 537 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC increased its position in Old Dominion Freight Line by 6.0% during the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company's stock valued at $17,839,000 after buying an additional 6,133 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock traded down $1.91 during mid-day trading on Monday, reaching $138.93. 2,093,006 shares of the company's stock were exchanged, compared to its average volume of 1,858,333. The company has a market cap of $29.20 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 3.27 and a beta of 1.23. The stock's 50 day moving average is $152.42 and its 200 day moving average is $158.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 12-month low of $138.65 and a 12-month high of $233.26.

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). The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 EPS. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ODFL. Benchmark reaffirmed a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Truist Financial upped their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a "neutral" rating in a research report on Monday, August 4th. Vertical Research raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Thursday, July 31st. Finally, Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $166.95.

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.