Old Dominion Freight Line, Inc. (ODFL) Position Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 293,554 shares of the transportation company’s stock after selling 1,432 shares during the quarter. Principal Financial Group Inc. owned approximately 0.36% of Old Dominion Freight Line worth $32,324,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ODFL. Janus Henderson Group PLC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $266,855,000. William Blair Investment Management LLC increased its position in Old Dominion Freight Line by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after acquiring an additional 191,911 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Old Dominion Freight Line by 8.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock valued at $199,998,000 after acquiring an additional 157,362 shares during the period. JPMorgan Chase & Co. increased its position in Old Dominion Freight Line by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock valued at $183,182,000 after acquiring an additional 151,407 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Old Dominion Freight Line by 229.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock valued at $15,965,000 after purchasing an additional 116,777 shares during the period. Institutional investors and hedge funds own 72.45% of the company’s stock.

Several equities research analysts have recently weighed in on ODFL shares. Deutsche Bank lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $119.00 to $101.00 in a research note on Monday. Cowen reaffirmed a “hold” rating and issued a $100.00 target price on shares of Old Dominion Freight Line in a research report on Friday, September 1st. BidaskClub cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. ValuEngine cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Bank of America cut Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $105.00 to $102.00 in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $108.46.

Shares of Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded up $0.33 on Monday, hitting $127.74. The stock had a trading volume of 779,244 shares, compared to its average volume of 473,478. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a fifty-two week low of $80.56 and a fifty-two week high of $130.71. The firm has a market cap of $10,495.52, a P/E ratio of 31.38, a P/E/G ratio of 1.86 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The firm had revenue of $872.99 million during the quarter, compared to analysts’ expectations of $855.85 million. During the same quarter in the previous year, the company posted $1.03 EPS. Old Dominion Freight Line’s revenue was up 11.5% on a year-over-year basis. sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 4.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Tuesday, December 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.85%.

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Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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