Vise Technologies Inc. Takes Position in Old Dominion Freight Line, Inc. $ODFL

Vise Technologies Inc. bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,938 shares of the transportation company’s stock, valued at approximately $853,000.

A number of other institutional investors have also made changes to their positions in ODFL. E Fund Management Co. Ltd. bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $1,733,000. Asahi Life Asset Management CO. LTD. acquired a new stake in Old Dominion Freight Line during the 2nd quarter valued at $392,000. Csenge Advisory Group bought a new position in Old Dominion Freight Line during the second quarter worth $256,000. Johnson Financial Group Inc. acquired a new position in shares of Old Dominion Freight Line in the second quarter valued at $2,155,000. Finally, one8zero8 LLC acquired a new position in shares of Old Dominion Freight Line in the second quarter valued at $499,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $206.47 on Monday. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of 39.78, a P/E/G ratio of 3.59 and a beta of 1.18. The stock’s fifty day moving average price is $220.21 and its two-hundred day moving average price is $210.63. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and issued a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research report on Monday, July 13th. Wells Fargo & Company raised shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $250.00 in a report on Wednesday, July 8th. Robert W. Baird set a $229.00 price target on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. increased their price target on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Finally, Susquehanna raised their price objective on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $226.55.

About Old Dominion Freight Line

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.