Ritholtz Wealth Management Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ritholtz Wealth Management increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,416 shares of the transportation company’s stock after acquiring an additional 3,336 shares during the period. Ritholtz Wealth Management’s holdings in Old Dominion Freight Line were worth $2,716,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American National Bank & Trust bought a new position in shares of Old Dominion Freight Line during the first quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $35,000. Itau Unibanco Holding S.A. boosted its position in shares of Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line in the fourth quarter worth $51,000. Finally, CoreCap Advisors LLC grew its position in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Benchmark restated a “hold” rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research report on Thursday. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Truist Financial reduced their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price target for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $176.50.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $160.18 on Monday. The business’s 50 day moving average price is $159.53 and its 200-day moving average price is $175.53. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The company has a market cap of $33.85 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line’s payout ratio is presently 21.01%.

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.