Prudential Financial Inc. Grows Position in Old Dominion Freight Line, Inc. $ODFL

Prudential Financial Inc. lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,440 shares of the transportation company’s stock after purchasing an additional 12,516 shares during the quarter. Prudential Financial Inc.’s holdings in Old Dominion Freight Line were worth $17,600,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line during the second quarter worth $26,000. Rossby Financial LCC purchased a new position in Old Dominion Freight Line in the second quarter valued at $28,000. Zions Bancorporation National Association UT acquired a new position in shares of Old Dominion Freight Line in the first quarter worth about $39,000. Chilton Capital Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $47,000. Finally, WPG Advisers LLC purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth about $51,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 0.4%

Shares of ODFL stock opened at $134.91 on Thursday. The stock’s fifty day moving average is $137.76 and its two-hundred day moving average is $151.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20. The firm has a market capitalization of $28.21 billion, a P/E ratio of 27.14, a PEG ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $228.72.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Wolfe Research raised their price objective on Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. JPMorgan Chase & Co. upped their target price on Old Dominion Freight Line from $143.00 to $144.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. TD Cowen decreased their target price on Old Dominion Freight Line from $159.00 to $154.00 in a research report on Thursday, October 30th. Finally, Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.27.

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.