Prudential PLC buys 5,820 shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

VaselineSeptember 11, 2024

0 5 minutes read

Prudential PLC raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 24.1% in the second quarter, HoldingsChannel.com reports. The firm owned 29,978 shares of the transportation company’s stock after acquiring an additional 5,820 shares during the period. Prudential PLC’s holdings in Old Dominion Freight Line were worth $5,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilkinson Global Asset Management LLC boosted its holdings in Old Dominion Freight Line by 108.5% during the second quarter. Wilkinson Global Asset Management LLC now owns 104,421 shares of the transportation company’s stock worth $18,441,000 after purchasing an additional 54,331 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Old Dominion Freight Line by 5.9% in the 2nd quarter. Ballentine Partners LLC now owns 1,730 shares of the transportation company’s stock worth $306,000 after acquiring an additional 96 shares in the the last quarter. Caprock Group LLC raised its holdings in Old Dominion Freight Line by 609.7% during the 2nd quarter. Caprock Group LLC now owns 8,162 shares of the transportation company’s stock worth $1,441,000 after acquiring an additional 7,012 shares shares in the last quarter. Certuity LLC boosted its stake in shares of Old Dominion Freight Line by 34.2% in the second quarter. Certuity LLC now owns 4,896 shares of the transportation company’s stock worth $865,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Old Dominion Freight Line by 329.8% in the second quarter. Acadian Asset Management LLC now owns 28,238 shares of the transportation company’s stock worth $4,983,000 after buying an additional 21,668 shares during the last quarter. 77.82% of shares are held by institutional investors.

Insider activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the president now directly owns 1,391,621 shares of the company, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of shares are owned by insiders.

Changes in Analyst Ratings

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A number of equities analysts have recently weighed in on the company. Stephens restated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Susquehanna cut 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 note on Wednesday, June 12th. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th . Bank of America dropped their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Robert W. Baird boosted their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday , July 25. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $201.00, according to MarketBeat.

See the latest stock report on ODFL

Old Dominion freight line trading up 0.7%

NASDAQ:ODFL opened at $191.16 on Wednesday. The company has a market cap of $41.54 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.83 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The stock has a fifty day moving average price of $194.49 and a two hundred day moving average price of $196.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46, and a quick ratio of 1.46.

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 earnings per share for the quarter, topping the consensus estimate 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 net margin of 21.38% and a return on equity of 30.33%. The company’s quarterly revenue was up 6.1% year over year. In the same quarter last year, the company posted earnings of $1.33 per share. As a group, analysts expect that Old Dominion Freight Line, Inc. to post 5.65 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4. This represents a dividend of $1.04 on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Old Dominion Freight Line Company Profile

(Free Report)

Old Dominion Freight Line, Inc operates as a less-than-truckload motor 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.