Western Financial Corporation Boosts Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Western Financial Corporation grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 21.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,460 shares of the transportation company’s stock after buying an additional 798 shares during the quarter. Old Dominion Freight Line accounts for 0.8% of Western Financial Corporation’s portfolio, making the stock its 27th largest position. Western Financial Corporation’s holdings in Old Dominion Freight Line were worth $1,332,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ODFL. Norges Bank purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $335,106,000. BlackRock Inc. grew its holdings in shares of Old Dominion Freight Line by 3.3% during the fourth quarter. BlackRock Inc. now owns 10,008,078 shares of the transportation company’s stock valued at $3,586,696,000 after buying an additional 320,332 shares during the last quarter. KBC Group NV boosted its holdings in Old Dominion Freight Line by 250.1% in the fourth quarter. KBC Group NV now owns 445,017 shares of the transportation company’s stock worth $159,485,000 after purchasing an additional 317,891 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Old Dominion Freight Line by 81.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 595,368 shares of the transportation company’s stock worth $213,368,000 after purchasing an additional 266,650 shares during the last quarter. Finally, Congress Asset Management Co. MA purchased a new stake in Old Dominion Freight Line in the fourth quarter worth approximately $76,673,000. Hedge funds and other institutional investors own 77.86% of the company’s stock.

Several brokerages recently issued reports on ODFL. Citigroup dropped their target price on shares of Old Dominion Freight Line from $295.00 to $265.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Wells Fargo & Company upgraded shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $280.00 to $300.00 in a report on Monday, June 27th. Susquehanna Bancshares raised their target price on shares of Old Dominion Freight Line from $275.00 to $285.00 in a report on Thursday, April 28th. Raymond James decreased their price target on shares of Old Dominion Freight Line from $365.00 to $305.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 20th. Finally, Credit Suisse Group initiated coverage on shares of Old Dominion Freight Line in a research report on Monday, June 27th. They issued a “neutral” rating and a $282.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $299.71.

Shares of ODFL stock opened at $261.01 on Monday. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.27 and a beta of 1.00. Old Dominion Freight Line, Inc. has a one year low of $231.31 and a one year high of $373.58. The company’s fifty day moving average price is $259.70 and its 200-day moving average price is $291.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.21 and a quick ratio of 2.21.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The transportation company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.37 by $0.23. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Old Dominion Freight Line had a net margin of 20.17% and a return on equity of 32.41%. The company’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm earned $1.70 EPS. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 11.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $1.20 annualized dividend and a yield of 0.46%. Old Dominion Freight Line’s payout ratio is 12.26%.

About Old Dominion Freight Line (Get Rating)

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

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

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