Littlejohn Financial Services Inc. Takes $1.05 Million Position in Old Dominion Freight Line, Inc. $ODFL

Littlejohn Financial Services Inc. bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, HoldingsChannel reports. The firm bought 7,424 shares of the transportation company’s stock, valued at approximately $1,045,000.

Several other large investors also recently modified their holdings of ODFL. Vanguard Group Inc. raised its position in Old Dominion Freight Line by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock valued at $3,693,663,000 after purchasing an additional 91,842 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Old Dominion Freight Line by 20.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock worth $474,292,000 after buying an additional 492,563 shares during the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $371,961,000. Lazard Asset Management LLC increased its stake in shares of Old Dominion Freight Line by 11.6% during the second quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after buying an additional 200,681 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Old Dominion Freight Line by 9.7% during the second quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after acquiring an additional 137,068 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird set a $170.00 price target on shares of Old Dominion Freight Line in a report on Monday, January 5th. Stifel Nicolaus set a $173.00 target price on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Zacks Research lowered shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Wells Fargo & Company reduced 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 report on Thursday, October 30th. Finally, BMO Capital Markets upgraded shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $172.00 to $170.00 in a report on Monday, December 1st. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $161.42.

Old Dominion Freight Line Stock Up 1.1%

NASDAQ:ODFL opened at $173.52 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50-day moving average price is $150.60 and its 200-day moving average price is $149.83. The company has a market capitalization of $36.28 billion, a PE ratio of 34.91, a P/E/G ratio of 8.43 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. Old Dominion Freight Line’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.