OneAscent Financial Services LLC Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

OneAscent Financial Services LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 120.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,813 shares of the transportation company’s stock after purchasing an additional 2,084 shares during the quarter. OneAscent Financial Services LLC’s holdings in Old Dominion Freight Line were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $495,387,000. International Assets Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 39,016.7% during the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after purchasing an additional 703,471 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after purchasing an additional 251,289 shares during the last quarter. Congress Asset Management Co. MA raised its stake in shares of Old Dominion Freight Line by 98.2% during the first quarter. Congress Asset Management Co. MA now owns 424,665 shares of the transportation company’s stock worth $93,133,000 after purchasing an additional 210,354 shares during the last quarter. Finally, Parnassus Investments LLC raised its stake in shares of Old Dominion Freight Line by 42.4% during the fourth quarter. Parnassus Investments LLC now owns 339,520 shares of the transportation company’s stock worth $137,618,000 after purchasing an additional 101,079 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 1.3 %

Shares of ODFL stock opened at $176.60 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $38.37 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.30 and a beta of 1.02. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The business has a fifty day simple moving average of $179.13 and a 200-day simple moving average of $200.08.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ODFL shares. Wells Fargo & Company started coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They set an “underweight” rating and a $175.00 price target for the company. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research report on Monday, April 29th. Finally, TD Cowen cut their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $201.18.

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.