Verdence Capital Advisors LLC Has $804,000 Stock Position in Old Dominion Freight Line, Inc. $ODFL

Verdence Capital Advisors LLC reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,953 shares of the transportation company’s stock after selling 216 shares during the period. Verdence Capital Advisors LLC’s holdings in Old Dominion Freight Line were worth $804,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ODFL. Larson Financial Group LLC increased its holdings in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after buying an additional 108 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $39,000. Zions Bancorporation National Association UT acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $39,000. Olde Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $43,000. Finally, WPG Advisers LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $51,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $135.43 on Wednesday. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.19 and a beta of 1.19. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The stock has a fifty day simple moving average of $145.99 and a 200 day simple moving average of $155.28. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ODFL. Stephens lowered their price target on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Citigroup lowered their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $163.86.

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.