19,516 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Principle Wealth Partners LLC

Principle Wealth Partners LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 19,516 shares of the transportation company’s stock, valued at approximately $4,227,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Bell Investment Advisors Inc bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Reflection Asset Management bought a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $28,000. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line in the first quarter valued at approximately $29,000. Finally, DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $211.96 on Tuesday. The stock has a market capitalization of $43.95 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 3.67 and a beta of 1.18. The company’s 50-day moving average is $223.29 and its 200-day moving average is $209.78. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.35%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODFL. UBS Group restated a “neutral” rating and issued a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Wells Fargo & Company upgraded shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $250.00 in a research report on Wednesday, July 8th. Truist Financial lifted their target price on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group restated a “buy” rating and issued a $244.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Finally, Zacks Research raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $226.55.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.