Prospera Financial Services Inc Takes Position in Old Dominion Freight Line, Inc. (NASDAQ: ODFL)


Prospera Financial Services Inc has acquired a new stake in the shares of Old Dominion Freight Line, Inc. (NASDAQ: ODFLGet a rating) during Q1, according to the company in its latest filing with the Securities and Exchange Commission. The fund acquired 380 shares of the transportation company, valued at around $113,000.

Several other institutional investors also changed their holdings in ODFL. Commonwealth Equity Services LLC increased its holdings of Old Dominion Freight Line shares by 2.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,790 shares of the transportation company valued at $6,734,000 after buying 364 additional shares last quarter. CWM LLC purchased a new stake in Old Dominion Freight Line in Q4 valued at approximately $291,000. Raymond James Trust NA increased its stake in Old Dominion Freight Line by 14.3% in the fourth quarter. Raymond James Trust NA now owns 1,108 shares of the transportation company valued at $397,000 after acquiring 139 additional shares last quarter. Qube Research & Technologies Ltd acquired a new stake in Old Dominion Freight Line in Q4, valued at approximately $17,839,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Old Dominion Freight Line by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 20,040 shares of the transportation company valued at $7,182,000 after acquiring 68 additional shares last quarter. Institutional investors hold 77.86% of the company’s shares.

Changes to analyst ratings

Several research companies have commented on the ODFL. UBS Group reduced its target price on Old Dominion Freight Line from $288.00 to $279.00 and set a “neutral” rating on the stock in a Thursday July 28 research note. Cowen raised his target price on Old Dominion Freight Line from $213.00 to $232.00 in a Thursday, April 28 research note. Raymond James reduced his target price on Old Dominion Freight Line from $305.00 to $265.00 in a Friday July 15 research note. Susquehanna reduced its target price on Old Dominion Freight Line from $285.00 to $270.00 in a Thursday July 28 research note. Finally, Evercore ISI lowered its price target on Old Dominion Freight Line from $334.00 to $301.00 and placed an “in-line” rating on the stock in a Tuesday, July 12 research note. Two equity research analysts gave the stock a sell rating, eleven gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $295.80.

Old Dominion freight line inventory up 1.4%

ODFL share opened at $303.17 on Friday. The company has a current ratio of 1.92, a quick ratio of 2.21 and a debt ratio of 0.02. The company has a market capitalization of $34.37 billion, a PE ratio of 28.12, a PEG ratio of 1.49 and a beta of 1.04. Old Dominion Freight Line, Inc. has a 1-year low of $231.31 and a 1-year high of $373.58. The company’s 50-day simple moving average is $263.83 and its 200-day simple moving average is $280.92.

Former Dominion Freight Line (NASDAQ: ODFLGet a rating) last released its quarterly earnings data on Wednesday, July 27. The transportation company reported EPS of $3.30 for the quarter, beating consensus analyst estimates of $3.09 by $0.21. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The company posted revenue of $1.67 billion for the quarter, compared to analysts’ estimates of $1.66 billion. During the same period a year earlier, the company posted EPS of $2.31. The company’s revenue for the quarter increased 26.4% year over year. As a group, research analysts expect Old Dominion Freight Line, Inc. to post EPS of 11.74 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 21. Shareholders of record on Wednesday, September 7 will receive a dividend of $0.30. This represents a dividend of $1.20 on an annualized basis and a yield of 0.40%. The ex-dividend date is Tuesday, September 6. Old Dominion Freight Line’s dividend payout ratio is 11.13%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, President David S. Congdon sold 6,246 shares of the company in a trade on Tuesday, August 2. The stock was sold at an average price of $300.14, for a total value of $1,874,674.44. As a result of the transaction, the president now directly owns 809,569 shares of the company, valued at approximately $242,984,039.66. The sale was disclosed in a legal filing with the SEC, accessible via this link. Insiders hold 10.30% of the shares of the company.

Old Dominion Freight Line Company Profile

(Get a rating)

Old Dominion Freight Line, Inc. operates as a Less Than Truckload (LTL) truck carrier in the United States and North America. It provides regional, inter-regional and domestic LTL services, including expedited shipping. The company also offers various value-added services, such as container drayage, truckload brokerage and supply chain consulting.

See also

Institutional ownership by quarter for Old Dominion Freight Line (NASDAQ:ODFL)



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