Atlantic Union Bankshares Corp Acquires 6,477 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Atlantic Union Bankshares Corp increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 123.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,714 shares of the transportation company’s stock after purchasing an additional 6,477 shares during the period. Atlantic Union Bankshares Corp’s holdings in Old Dominion Freight Line were worth $2,569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after purchasing an additional 81,122 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after acquiring an additional 12,016 shares during the period. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth approximately $495,387,000. Finally, Morgan Stanley boosted its holdings in shares of Old Dominion Freight Line by 7.7% during the third quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock worth $393,397,000 after acquiring an additional 68,960 shares during the period. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 price objective for the company. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective for the company in a report on Wednesday, May 8th. Evercore ISI restated an “in-line” rating and set a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a research report on Monday, April 29th. Finally, Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $201.18.

Old Dominion Freight Line Price Performance

ODFL traded up $2.23 during trading on Friday, hitting $176.60. 3,118,740 shares of the stock traded hands, compared to its average volume of 1,592,201. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The business has a 50 day moving average price of $179.13 and a 200 day moving average price of $200.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Old Dominion Freight Line Company 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.