Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by V Square Quantitative Management LLC

V Square Quantitative Management LLC increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,369 shares of the transportation company’s stock after acquiring an additional 829 shares during the quarter. V Square Quantitative Management LLC’s holdings in Old Dominion Freight Line were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. raised its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Atwood & Palmer Inc. raised its stake in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $29,000. Finally, Fortitude Family Office LLC raised its stake in Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock traded down $1.66 during trading hours on Wednesday, hitting $193.36. 438,916 shares of the stock traded hands, compared to its average volume of 1,631,355. The stock has a 50-day simple moving average of $186.20 and a 200 day simple moving average of $199.09. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a market cap of $42.01 billion, a P/E ratio of 34.33, a P/E/G ratio of 3.92 and a beta of 1.00. The company has a current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.73 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Analyst Upgrades and Downgrades

ODFL has been the subject of several analyst reports. Bank of America boosted their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Barclays dropped their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. UBS Group increased their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Wells Fargo & Company began coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target on the stock. Finally, Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $202.78.

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.