Deutsche Bank AG Makes New Investment in Old Dominion Freight Line, Inc. $ODFL

Deutsche Bank AG bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 714,936 shares of the transportation company’s stock, valued at approximately $154,855,000. Deutsche Bank AG owned about 0.34% of Old Dominion Freight Line as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ODFL. Bogart Wealth LLC lifted its position in Old Dominion Freight Line by 9.9% during the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 46 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Old Dominion Freight Line by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after buying an additional 55 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Old Dominion Freight Line by 2.3% in the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after buying an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after buying an additional 57 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after buying an additional 60 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of analyst reports. Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Stifel Nicolaus set a $263.00 price target on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $244.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Wells Fargo & Company raised shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $250.00 in a research report on Wednesday, July 8th. Finally, Truist Financial raised their price objective on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Stock Down 1.4%

Shares of Old Dominion Freight Line stock opened at $205.08 on Thursday. The firm’s 50 day moving average price is $221.86 and its 200-day moving average price is $210.26. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The company has a market cap of $42.53 billion, a P/E ratio of 39.51, a PEG ratio of 3.61 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. Old Dominion Freight Line’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.