Profund Advisors LLC Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Profund Advisors LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,408 shares of the transportation company’s stock after purchasing an additional 49 shares during the period. Profund Advisors LLC’s holdings in Old Dominion Freight Line were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ODFL. WCM Investment Management LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter worth $276,038,000. BlackRock Inc. raised its holdings in shares of Old Dominion Freight Line by 9.8% during the second quarter. BlackRock Inc. now owns 9,673,939 shares of the transportation company’s stock worth $2,455,248,000 after purchasing an additional 865,667 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Old Dominion Freight Line by 31.0% during the second quarter. JPMorgan Chase & Co. now owns 2,389,432 shares of the transportation company’s stock worth $606,437,000 after purchasing an additional 565,063 shares during the last quarter. Royal Bank of Canada increased its holdings in Old Dominion Freight Line by 115.7% in the first quarter. Royal Bank of Canada now owns 714,182 shares of the transportation company’s stock valued at $171,695,000 after buying an additional 383,128 shares in the last quarter. Finally, Select Equity Group L.P. purchased a new position in Old Dominion Freight Line in the first quarter valued at $41,920,000. 70.11% of the stock is owned by hedge funds and other institutional investors.

ODFL opened at $284.77 on Thursday. The firm has a market capitalization of $32.98 billion, a PE ratio of 38.85, a PEG ratio of 1.52 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $185.20 and a twelve month high of $304.22. The firm’s 50-day moving average price is $288.38 and its 200 day moving average price is $267.67. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 28th. The transportation company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. Old Dominion Freight Line had a net margin of 18.80% and a return on equity of 26.30%. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 8.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.80 annualized dividend and a yield of 0.28%. Old Dominion Freight Line’s payout ratio is 14.08%.

ODFL has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Old Dominion Freight Line from $292.00 to $315.00 and gave the company an “overweight” rating in a report on Monday, October 4th. Evercore ISI reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Old Dominion Freight Line in a report on Friday, July 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $264.00 price objective on shares of Old Dominion Freight Line in a report on Sunday, August 1st. Raymond James lifted their price objective on shares of Old Dominion Freight Line from $280.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, September 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Old Dominion Freight Line from $263.00 to $264.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $260.16.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

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

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