Vest Financial LLC Has $27.73 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Vest Financial LLC increased its stake in Old Dominion Freight Line by 66.8% during the 2nd quarter, owning approximately $27.73 million worth of shares.
• Several institutional investors have also raised their positions in Old Dominion Freight Line, with 77.82% of the company's stock currently held by institutional investors.
• Analysts have mixed opinions on the stock, with target prices ranging from $140.00 to $174.00, and a consensus rating of "Hold."

Vest Financial LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 66.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 170,838 shares of the transportation company's stock after purchasing an additional 68,410 shares during the quarter. Vest Financial LLC owned about 0.08% of Old Dominion Freight Line worth $27,727,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the period. Invesco Ltd. raised its holdings in shares of Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company's stock valued at $706,841,000 after acquiring an additional 53,079 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Old Dominion Freight Line by 79.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock worth $430,006,000 after purchasing an additional 1,151,221 shares during the period. JPMorgan Chase & Co. grew its stake in Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Old Dominion Freight Line by 11.4% in the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company's stock worth $232,955,000 after acquiring an additional 145,058 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ODFL. Wolfe Research increased their target price on Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. UBS Group increased their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a "neutral" rating in a research report on Friday, October 3rd. Stephens cut their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Barclays dropped their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $164.09.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $134.31 on Monday. The stock has a market capitalization of $28.23 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.15 and a beta of 1.19. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The stock has a 50-day moving average of $146.39 and a 200 day moving average of $155.61. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data 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). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the previous year, the business posted $1.48 EPS. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors 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 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's payout ratio is presently 21.88%.

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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