Vontobel Holding Ltd. Trims Holdings in Old Dominion Freight Line, Inc. $ODFL

Vontobel Holding Ltd. decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 39.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,076 shares of the transportation company’s stock after selling 4,624 shares during the quarter. Vontobel Holding Ltd.’s holdings in Old Dominion Freight Line were worth $1,148,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ODFL. Brighton Jones LLC lifted its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares in the last quarter. GAMMA Investing LLC increased its stake in Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after acquiring an additional 1,018 shares during the last quarter. Simon Quick Advisors LLC increased its stake in Old Dominion Freight Line by 16.1% during the first quarter. Simon Quick Advisors LLC now owns 1,766 shares of the transportation company’s stock worth $292,000 after acquiring an additional 245 shares during the last quarter. Fifth Third Bancorp increased its stake in Old Dominion Freight Line by 1.4% during the first quarter. Fifth Third Bancorp now owns 8,682 shares of the transportation company’s stock worth $1,436,000 after acquiring an additional 118 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC increased its stake in Old Dominion Freight Line by 14.5% during the first quarter. Elevation Point Wealth Partners LLC now owns 5,688 shares of the transportation company’s stock worth $941,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ODFL shares. Raymond James Financial cut their target price on 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. Stephens cut their target price on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. The Goldman Sachs Group cut their target price on Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Morgan Stanley cut their target price on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $164.09.

Old Dominion Freight Line Trading Down 4.9%

Shares of NASDAQ ODFL opened at $134.31 on Monday. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. 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 stock has a fifty day simple moving average of $146.39 and a 200-day simple moving average of $155.61. The stock has a market capitalization of $28.23 billion, a PE ratio of 26.23, a PEG ratio of 3.15 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) 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.