Northern Trust Corp Has $327.66 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Northern Trust Corp reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,980,405 shares of the transportation company’s stock after selling 3,452 shares during the period. Northern Trust Corp’s holdings in Old Dominion Freight Line were worth $327,658,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. XTX Topco Ltd acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $368,000. NewEdge Advisors LLC raised its position in shares of Old Dominion Freight Line by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 6,151 shares of the transportation company’s stock valued at $1,085,000 after purchasing an additional 162 shares during the period. Marshall Wace LLP lifted its stake in shares of Old Dominion Freight Line by 423.1% in the fourth quarter. Marshall Wace LLP now owns 7,229 shares of the transportation company’s stock worth $1,275,000 after buying an additional 5,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Old Dominion Freight Line by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,241,553 shares of the transportation company’s stock worth $219,020,000 after buying an additional 141,612 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.9%

NASDAQ ODFL opened at $150.24 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $140.91 and a twelve month high of $233.26. The stock has a market cap of $31.58 billion, a PE ratio of 29.34, a PEG ratio of 3.56 and a beta of 1.24. The firm has a 50-day simple moving average of $158.78 and a 200 day simple moving average of $165.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ODFL shares. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Monday, August 4th. Evercore ISI lowered their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a research report on Thursday, April 24th. Truist Financial lifted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. The Goldman Sachs Group upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and increased their target price for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Finally, Susquehanna lowered their target price on Old Dominion Freight Line from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, June 18th. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $167.62.

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.