XTX Topco Ltd Purchases New Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

XTX Topco Ltd acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,842 shares of the transportation company’s stock, valued at approximately $1,385,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares during the period. Capital Research Global Investors raised its stake in shares of Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after acquiring an additional 270,538 shares during the period. Finally, Capital World Investors boosted its position in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after acquiring an additional 1,228,116 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 5.2 %

NASDAQ ODFL opened at $193.97 on Friday. The stock has a market capitalization of $42.15 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a fifty day moving average of $196.20 and a 200-day moving average of $196.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Analysts Set New Price Targets

ODFL has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Bank of America dropped their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Morgan Stanley decreased their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Stephens reiterated an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $201.83.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

About Old Dominion Freight Line

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.