Allspring Global Investments Holdings LLC Purchases 211,141 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Allspring Global Investments Holdings LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 118.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 389,891 shares of the transportation company’s stock after purchasing an additional 211,141 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.18% of Old Dominion Freight Line worth $85,507,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after purchasing an additional 27 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Old Dominion Freight Line by 3.1% in the third quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock valued at $397,000 after purchasing an additional 29 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after purchasing an additional 30 shares during the period. Drive Wealth Management LLC boosted its stake in Old Dominion Freight Line by 5.3% during the fourth quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock worth $316,000 after buying an additional 39 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in Old Dominion Freight Line by 5.5% in the 4th quarter. Ballentine Partners LLC now owns 772 shares of the transportation company’s stock valued at $313,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.7 %

ODFL stock traded up $1.18 during trading on Tuesday, hitting $179.88. The company had a trading volume of 162,933 shares, compared to its average volume of 1,582,713. The firm has a 50-day moving average price of $178.47 and a 200-day moving average price of $200.05. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. 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 $39.09 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.30 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 net margin of 21.19% and a return on equity of 30.12%. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. Old Dominion Freight Line’s payout ratio is 18.31%.

Analysts Set New Price Targets

ODFL has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Evercore ISI reaffirmed an “in-line” rating and set a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price for the company in a report on Wednesday, May 8th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target on the stock. Finally, 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 note on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.