Union Bancaire Privee UBP SA Invests $319,000 in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Union Bancaire Privee UBP SA has invested approximately $319,000 in shares of Old Dominion Freight Line, Inc., acquiring 1,980 shares during the 2nd quarter.
• Old Dominion Freight Line reported a decrease in revenue of 6.1% year-over-year and earnings per share of $1.27, missing the consensus estimate by $0.02.
• The company declared a quarterly dividend of $0.28 per share, with a current annualized dividend yield of 0.8% and a payout ratio of 21.88%.

Union Bancaire Privee UBP SA acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,980 shares of the transportation company's stock, valued at approximately $319,000.

Other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock valued at $430,006,000 after buying an additional 1,151,221 shares during the last quarter. Nuveen LLC acquired a new position in Old Dominion Freight Line in the 1st quarter valued at about $151,107,000. JPMorgan Chase & Co. grew its stake in Old Dominion Freight Line by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock valued at $402,002,000 after buying an additional 754,796 shares during the last quarter. Vanguard Group Inc. grew its stake in Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock valued at $3,750,157,000 after buying an additional 416,097 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Old Dominion Freight Line by 4,463.2% in the 1st quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company's stock valued at $43,253,000 after buying an additional 255,652 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $139.24 on Thursday. 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 firm has a market capitalization of $29.26 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 3.27 and a beta of 1.19. The firm's 50 day simple moving average is $148.64 and its 200 day simple moving average is $156.97. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates 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 was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 EPS. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share 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. Investors of record on Wednesday, September 3rd were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ODFL shares. Truist Financial upped their price target on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Wells Fargo & Company decreased their price target on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Barclays decreased their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Stephens decreased 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 report on Thursday, July 31st. 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 report on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $166.10.

Old Dominion Freight Line 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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