Whittier Trust Co. Has $16.08 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Whittier Trust Co. increased its stake in Old Dominion Freight Line, owning 99,076 shares valued at $16.08 million after a 2.5% increase in the second quarter.
• Multiple hedge funds, including Larson Financial Group and Wayfinding Financial, have expanded their holdings in Old Dominion, reflecting increased institutional interest in the company.
• Analysts have diverse price targets for Old Dominion stock, with UBS raising its target to $164.00 while other firms like Jefferies and JPMorgan have set lower targets, indicating a consensus rating of "Hold".

Whittier Trust Co. lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,076 shares of the transportation company's stock after buying an additional 2,417 shares during the period. Whittier Trust Co.'s holdings in Old Dominion Freight Line were worth $16,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after buying an additional 108 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $39,000. Zions Bancorporation National Association UT purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $39,000. Olde Wealth Management LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $43,000. Finally, WPG Advisers LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ODFL. UBS Group boosted their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Jefferies Financial Group lowered their price target on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, October 9th. Wells Fargo & Company lowered 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 report on Thursday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $155.00 to $143.00 and set a "neutral" rating on the stock in a report on Wednesday, October 8th. Finally, Citigroup lowered their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. 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. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $163.86.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $140.71 on Tuesday. The stock's 50-day simple moving average is $145.38 and its 200 day simple moving average is $154.55. The stock has a market capitalization of $29.57 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 3.26 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26.

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 analysts' consensus estimates of $1.29 by ($0.02). The company 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 revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company posted $1.48 EPS. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal 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 $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 dividend payout ratio is presently 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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