Vanguard Group Inc. Has $3.75 Billion Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• Vanguard Group Inc. increased its stake in Old Dominion Freight Line by 1.9%, acquiring 416,097 shares to reach a total of approximately 22.67 million shares, worth about $3.75 billion, as of the end of the last quarter.
• Analysts have recently adjusted their price targets for Old Dominion Freight Line, with ranges from $145.00 to $168.00, and a consensus rating of "Hold".
• Old Dominion Freight Line reported quarterly earnings of $1.27 EPS, missing estimates and representing a 6.1% decline in revenue year-over-year.

Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,666,405 shares of the transportation company's stock after acquiring an additional 416,097 shares during the period. Vanguard Group Inc. owned approximately 10.68% of Old Dominion Freight Line worth $3,750,157,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ODFL. Brighton Jones LLC lifted its position in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Old Dominion Freight Line by 1.4% during the fourth quarter. Bank of Nova Scotia now owns 119,459 shares of the transportation company's stock worth $21,103,000 after purchasing an additional 1,659 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Old Dominion Freight Line by 23.3% during the fourth quarter. Advisory Services Network LLC now owns 7,859 shares of the transportation company's stock worth $1,386,000 after purchasing an additional 1,484 shares in the last quarter. APG Asset Management N.V. raised its holdings in Old Dominion Freight Line by 96.2% in the fourth quarter. APG Asset Management N.V. now owns 22,557 shares of the transportation company's stock valued at $3,843,000 after acquiring an additional 11,060 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Old Dominion Freight Line by 9.5% in the fourth quarter. Bessemer Group Inc. now owns 435,439 shares of the transportation company's stock valued at $76,812,000 after acquiring an additional 37,943 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 0.6%

ODFL traded down $0.87 during midday trading on Friday, hitting $144.46. 1,440,285 shares of the company's stock traded hands, compared to its average volume of 2,003,047. Old Dominion Freight Line, Inc. has a one year low of $141.73 and a one year high of $233.26. The company has a market cap of $30.36 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 3.33 and a beta of 1.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.32. The stock's fifty day simple moving average is $160.64 and its 200-day simple moving average is $167.10.

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 firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. As a group, equities analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line's payout ratio is currently 21.88%.

Analyst Ratings Changes

ODFL has been the subject of several recent research reports. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. 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. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. UBS Group reduced their price objective on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company 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 report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $167.62.

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.