Prime Capital Investment Advisors LLC Has $6 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Prime Capital Investment Advisors LLC has reduced its holdings in Old Dominion Freight Line, Inc. by 42.3%, now owning 36,993 shares valued at approximately $6 million.
• Wall Street analysts have revised their price targets for Old Dominion, with Morgan Stanley lowering their target from $170 to $165 while maintaining an "equal weight" rating.
• Old Dominion Freight Line declared a quarterly dividend of $0.28 per share, resulting in an annualized dividend yield of 0.8%.

Prime Capital Investment Advisors LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 42.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,993 shares of the transportation company's stock after selling 27,070 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Old Dominion Freight Line were worth $6,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ODFL. Benjamin Edwards Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company's stock valued at $392,000 after buying an additional 71 shares during the last quarter. City Holding Co. lifted its holdings in shares of Old Dominion Freight Line by 1.1% during the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock valued at $1,175,000 after buying an additional 75 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after buying an additional 79 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its holdings in shares of Old Dominion Freight Line by 5.4% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company's stock valued at $258,000 after buying an additional 80 shares during the last quarter. Finally, Grimes & Company Inc. lifted its holdings in shares of Old Dominion Freight Line by 6.5% during the 2nd quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company's stock valued at $236,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ODFL shares. Morgan Stanley cut their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Stephens cut their price objective on 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. Raymond James Financial cut their price objective on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Citigroup cut their price objective on Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Finally, Benchmark reissued a "hold" rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $166.52.

Old Dominion Freight Line Trading Up 1.1%

Shares of ODFL opened at $142.82 on Tuesday. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $147.15 and a 200-day simple moving average of $156.42. The stock has a market cap of $30.02 billion, a PE ratio of 27.89, a PEG ratio of 3.30 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 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 the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm's revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.48 earnings per share. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal 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 issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. 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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