Greenleaf Trust Raises Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Greenleaf Trust increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,622 shares of the transportation company’s stock after purchasing an additional 187 shares during the period. Greenleaf Trust’s holdings in Old Dominion Freight Line were worth $930,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American National Bank & Trust purchased a new position in shares of Old Dominion Freight Line in the first quarter worth $30,000. Wayfinding Financial LLC purchased a new position in Old Dominion Freight Line during the 1st quarter valued at $39,000. Itau Unibanco Holding S.A. increased its position in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares during the period. Olde Wealth Management LLC purchased a new position in Old Dominion Freight Line during the 1st quarter valued at $43,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line during the 4th quarter valued at $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Truist Financial boosted their price objective on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy 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 $174.45.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $171.12 on Friday. The stock has a market cap of $36.16 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 3.49 and a beta of 1.25. The firm’s 50-day moving average is $163.37 and its 200 day moving average is $170.80. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. Old Dominion Freight Line’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line’s payout ratio is 21.01%.

About Old Dominion Freight Line

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.