Raymond James Financial Services Advisors Inc. sell 4,881 shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

VaselineAugust 21, 2024

0 4 minutes read

Raymond James Financial Services Advisors Inc. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 126,393 shares of the transportation company’s stock after selling 4,881 shares during the period. Holdings of Raymond James Financial Services Advisors Inc. holdings in Old Dominion Freight Line were worth $22,321,000 at the end of the most recent reporting period.

Several other institutional investors have added to or reduced their stakes in ODFL. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. raised its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $29,000. Finally, Fortitude Family Office LLC raised its stake in shares of Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. 77.82% of shares are currently held by institutional investors and hedge funds.

Changes in Analyst Ratings

Several equities research analysts recently issued reports on the stock. Susquehanna cut their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Baird RW raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Barclays decreased their price target on 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. Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a report on Monday, April 29th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, July 25th. 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 given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $202.78, according to MarketBeat.com.

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Old Dominion Freight Line down 0.7%

Shares of ODFL stock opened at $198.75 on Wednesday. The company has a 50-day moving average of $188.80 and a 200-day moving average of $199.07. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The firm has a market cap of $43.19 billion, a P/E ratio of 34.99, a PEG 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 (NASDAQ:ODFL – Get Your Free Report ) last posted 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 for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. In the same quarter last year, the firm earned $1.33 EPS. Sell-side 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. Stockholders of record on Wednesday, September 4th will be given a $0.26 dividend. This represents an annualized dividend of $1.04 and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

The old profile of the Dominion freight line

(Free Report)

Old Dominion Freight Line, Inc operates as a less-than-truckload motor vehicle carrier in the United States and North America. The company offers regional, interregional and national less-than-truckload services as well as express transportation. It also offers various value-added services, including container shipping, truckload brokerage and supply chain consulting.