GQ Asset Management LLC Acquires New Position in Old Dominion Freight Line (NASDAQ:ODFL)

GQ Asset Management LLC purchased a new position in Old Dominion Freight Line (NASDAQ:ODFL) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 729 shares of the transportation company’s stock, valued at approximately $96,000.

Other large investors have also modified their holdings of the company. Guardian Life Insurance Co. of America acquired a new position in Old Dominion Freight Line in the 4th quarter worth approximately $36,000. Cohen & Steers Inc. increased its holdings in Old Dominion Freight Line by 277.4% in the 4th quarter. Cohen & Steers Inc. now owns 200 shares of the transportation company’s stock worth $38,000 after buying an additional 147 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Old Dominion Freight Line by 450.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 209 shares of the transportation company’s stock worth $40,000 after buying an additional 171 shares during the period. Citizens Financial Group Inc RI increased its holdings in Old Dominion Freight Line by 64.6% in the 1st quarter. Citizens Financial Group Inc RI now owns 209 shares of the transportation company’s stock worth $27,000 after buying an additional 82 shares during the period. Finally, Ballast Advisors LLC acquired a new position in Old Dominion Freight Line in the 1st quarter worth approximately $30,000. Institutional investors own 57.39% of the company’s stock.

Shares of NASDAQ:ODFL opened at $158.79 on Friday. Old Dominion Freight Line has a 1 year low of $87.25 and a 1 year high of $159.90. The firm has a market capitalization of $18.39 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. The business’s 50 day moving average price is $141.42 and its 200-day moving average price is $180.06.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.01). Old Dominion Freight Line had a net margin of 14.99% and a return on equity of 20.85%. The business had revenue of $987.36 million for the quarter, compared to analysts’ expectations of $982.15 million. During the same quarter last year, the business earned $1.64 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line will post 4.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.38%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 11.94%.

ODFL has been the topic of a number of analyst reports. Deutsche Bank raised their price objective on shares of Old Dominion Freight Line from $125.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, May 14th. Stephens raised their price objective on shares of Old Dominion Freight Line from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Citigroup dropped their price objective on shares of Old Dominion Freight Line from $132.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Finally, Credit Suisse Group raised their price objective on shares of Old Dominion Freight Line from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $131.00.

Old Dominion Freight Line Company Profile

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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