Prospera Financial Services Inc Invests $1.29 Million in Old Dominion Freight Line, Inc. $ODFL

Prospera Financial Services Inc bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, HoldingsChannel reports. The firm bought 7,922 shares of the transportation company’s stock, valued at approximately $1,286,000.

A number of other large investors have also recently added to or reduced their stakes in ODFL. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 1.9% in the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after buying an additional 416,097 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after acquiring an additional 53,079 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after acquiring an additional 1,151,221 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Old Dominion Freight Line by 11.4% during the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock valued at $232,955,000 after purchasing an additional 145,058 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $138.85 on Thursday. The firm has a 50 day simple moving average of $140.87 and a 200 day simple moving average of $152.77. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $228.72. The stock has a market cap of $29.03 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.54%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ODFL shares. Morgan Stanley dropped their price target on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Jefferies Financial Group dropped their target price on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, October 9th. Stifel Nicolaus cut their price target on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating on the stock in a report on Tuesday, October 28th. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Finally, Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Profile

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