Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Boosted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 134.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,813 shares of the transportation company’s stock after purchasing an additional 2,762 shares during the period. First Trust Direct Indexing L.P.’s holdings in Old Dominion Freight Line were worth $1,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ODFL. Evergreen Capital Management LLC lifted its position in Old Dominion Freight Line by 13.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,113 shares of the transportation company’s stock valued at $455,000 after purchasing an additional 128 shares during the last quarter. Lido Advisors LLC raised its stake in Old Dominion Freight Line by 3.1% during the 3rd quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 29 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares during the period. Seven Eight Capital LP bought a new position in shares of Old Dominion Freight Line in the third quarter worth $286,000. Finally, Scotia Capital Inc. acquired a new position in shares of Old Dominion Freight Line during the third quarter valued at $327,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.2 %

NASDAQ:ODFL opened at $181.87 on Friday. The business’s fifty day moving average price is $177.17 and its 200 day moving average price is $199.69. The firm has a market capitalization of $39.52 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.37 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80.

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

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ODFL shares. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective for the company. Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Barclays cut their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Finally, Susquehanna lowered their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $201.18.

About Old Dominion Freight Line

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.