Robeco Institutional Asset Management B.V. Raises Position in Old Dominion Freight Line, Inc. $ODFL

Robeco Institutional Asset Management B.V. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 68.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,721 shares of the transportation company's stock after purchasing an additional 3,943 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Old Dominion Freight Line were worth $1,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $319,000. GC Wealth Management RIA LLC acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $275,000. V Square Quantitative Management LLC lifted its stake in shares of Old Dominion Freight Line by 16.5% in the second quarter. V Square Quantitative Management LLC now owns 4,040 shares of the transportation company's stock valued at $656,000 after purchasing an additional 572 shares during the period. City Holding Co. lifted its stake in shares of Old Dominion Freight Line by 4.2% in the second quarter. City Holding Co. now owns 7,404 shares of the transportation company's stock valued at $1,202,000 after purchasing an additional 300 shares during the period. Finally, LVW Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 26.5% in the second quarter. LVW Advisors LLC now owns 5,623 shares of the transportation company's stock valued at $913,000 after purchasing an additional 1,177 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ODFL shares. Raymond James Financial reduced their price objective on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Old Dominion Freight Line in a research report on Saturday, September 27th. Citigroup cut their target price on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Vertical Research upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Thursday, July 31st. Finally, TD Cowen cut their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $166.52.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $141.36 on Wednesday. The company has a market cap of $29.71 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.35 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company has a 50-day simple moving average of $146.74 and a 200-day simple moving average of $156.31.

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 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The firm 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 quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line's payout ratio is 21.88%.

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.

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