Vise Technologies Inc. Acquires Shares of 6,603 Old Dominion Freight Line, Inc. $ODFL

Vise Technologies Inc. acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent filing with the SEC. The firm acquired 6,603 shares of the transportation company’s stock, valued at approximately $1,072,000.

Several other large investors also recently modified their holdings of ODFL. Vanguard Group Inc. increased its position in shares of Old Dominion Freight Line by 1.9% in the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after acquiring an additional 416,097 shares during the last quarter. Invesco Ltd. grew its stake in shares of Old Dominion Freight Line by 1.3% in the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after purchasing an additional 53,079 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after acquiring an additional 1,151,221 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Old Dominion Freight Line by 11.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock valued at $232,955,000 after acquiring an additional 145,058 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ODFL shares. Morgan Stanley reduced their target price on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their target price on Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a research report on Tuesday, October 28th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, TD Cowen lowered their price objective on Old Dominion Freight Line from $159.00 to $154.00 in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $0.97 during midday trading on Thursday, reaching $137.88. 61,869 shares of the company’s stock traded hands, compared to its average volume of 1,898,190. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $228.72. The company has a fifty day simple moving average of $140.87 and a two-hundred day simple moving average of $152.77. 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 company has a market cap of $28.83 billion, a P/E ratio of 27.76, a PEG ratio of 3.22 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business posted $1.43 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

Old Dominion Freight Line 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.