Voya Investment Management LLC Acquires 183,717 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Posted by Defense World Staff on Jun 18th, 2023

Voya Investment Management LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 285.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 248,083 shares of the transportation company’s stock after acquiring an additional 183,717 shares during the quarter. Voya Investment Management LLC owned about 0.23% of Old Dominion Freight Line worth $70,401,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ODFL. SRS Capital Advisors Inc. increased its holdings in Old Dominion Freight Line by 51.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 538 shares of the transportation company’s stock valued at $153,000 after buying an additional 182 shares during the period. Natixis increased its holdings in Old Dominion Freight Line by 1,811.1% in the 4th quarter. Natixis now owns 160,498 shares of the transportation company’s stock valued at $45,546,000 after buying an additional 152,100 shares during the period. DGS Capital Management LLC increased its holdings in Old Dominion Freight Line by 5.0% in the 4th quarter. DGS Capital Management LLC now owns 988 shares of the transportation company’s stock valued at $280,000 after buying an additional 47 shares during the period. Macquarie Group Ltd. increased its holdings in Old Dominion Freight Line by 1.3% in the 4th quarter. Macquarie Group Ltd. now owns 24,196 shares of the transportation company’s stock valued at $6,866,000 after buying an additional 304 shares during the period. Finally, Insight Advisors LLC PA increased its holdings in Old Dominion Freight Line by 10.1% in the 4th quarter. Insight Advisors LLC PA now owns 1,017 shares of the transportation company’s stock valued at $288,000 after buying an additional 93 shares during the period. 73.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

ODFL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their target price for the company from $301.00 to $350.00 in a report on Friday, April 28th. Robert W. Baird decreased their price target on shares of Old Dominion Freight Line from $340.00 to $320.00 in a report on Thursday, April 27th. 22nd Century Group reaffirmed a “maintains” rating on shares of Old Dominion Freight Line in a report on Thursday, April 27th. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $326.00 to $310.00 in a report on Thursday, April 27th. Finally, Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $340.00 to $339.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $334.55.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $325.46 on Friday. The stock has a 50-day moving average price of $319.32 and a 200-day moving average price of $321.92. Old Dominion Freight Line, Inc. has a 1-year low of $231.70 and a 1-year high of $381.81. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. The firm has a market cap of $35.69 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 5.30 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The transportation company reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.11). Old Dominion Freight Line had a return on equity of 37.55% and a net margin of 21.96%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $2.60 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 10.8 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Tuesday, June 6th. Old Dominion Freight Line’s payout ratio is 13.16%.

Old Dominion Freight Line Company Profile

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Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.