London Co. of Virginia Trims Stake in Old Dominion Freight Line, Inc. $ODFL

London Co. of Virginia cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,145,472 shares of the transportation company’s stock after selling 31,327 shares during the period. London Co. of Virginia’s holdings in Old Dominion Freight Line were worth $185,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HRT Financial LP bought a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $30,813,000. Hudson Bay Capital Management LP purchased a new position in Old Dominion Freight Line during the second quarter valued at $1,120,000. EP Wealth Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $230,000. Eventide Asset Management LLC grew its position in shares of Old Dominion Freight Line by 3.9% in the 2nd quarter. Eventide Asset Management LLC now owns 598,831 shares of the transportation company’s stock worth $97,208,000 after buying an additional 22,343 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $457,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $159.49 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61. The company has a market capitalization of $33.35 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 4.15 and a beta of 1.27. The firm has a 50 day moving average of $139.81 and a 200 day moving average of $149.69. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ODFL. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $159.00 to $154.00 in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group dropped their target price on Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $154.48.

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.