TD Asset Management Inc Buys 60,503 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

TD Asset Management Inc lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 735,271 shares of the transportation company’s stock after acquiring an additional 60,503 shares during the period. TD Asset Management Inc owned 0.35% of Old Dominion Freight Line worth $121,651,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after acquiring an additional 108 shares in the last quarter. American National Bank & Trust purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $39,000. Itau Unibanco Holding S.A. grew its stake 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 last quarter. Finally, Olde Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line in the first quarter worth about $43,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $167.09 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $35.31 billion, a P/E ratio of 31.35, a P/E/G ratio of 3.37 and a beta of 1.25. The stock’s fifty day moving average is $163.55 and its two-hundred day moving average is $169.60.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. Old Dominion Freight Line’s dividend payout ratio is currently 21.01%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “underweight” rating in a report on Monday, July 7th. UBS Group lowered their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Raymond James Financial set a $185.00 price target on Old Dominion Freight Line and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $174.85.

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.