Raymond James & Associates Has $9.42 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Raymond James & Associates trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 53,353 shares of the transportation company’s stock after selling 1,816 shares during the period. Raymond James & Associates’ holdings in Old Dominion Freight Line were worth $9,422,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the fourth quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line during the fourth quarter worth $29,000. Neo Ivy Capital Management acquired a new position in Old Dominion Freight Line during the fourth quarter worth $40,000. Farmers & Merchants Investments Inc. increased its position in Old Dominion Freight Line by 100.0% during the first 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. Finally, JFS Wealth Advisors LLC increased its position in Old Dominion Freight Line by 135.7% during the fourth quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after buying an additional 76 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird raised their price target on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI reaffirmed an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research report on Monday, April 29th. Finally, Barclays lowered their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $200.88.

Old Dominion Freight Line Stock Up 1.4 %

ODFL stock opened at $203.77 on Monday. The company has a market cap of $44.28 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The business’s 50-day simple moving average is $190.54 and its 200 day simple moving average is $198.87.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.7 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

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.