APG Asset Management N.V. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 96.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,557 shares of the transportation company's stock after buying an additional 11,060 shares during the period. APG Asset Management N.V.'s holdings in Old Dominion Freight Line were worth $3,843,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $51,000. Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after buying an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $69,000. Institutional investors own 77.82% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on ODFL shares. Truist Financial began coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a "buy" rating and a $220.00 price objective on the stock. Evercore ISI increased their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research note on Thursday, February 6th. Stephens reaffirmed an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Jefferies Financial Group decreased their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, Susquehanna dropped their price target on Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $195.15.
Read Our Latest Stock Report on ODFL
Old Dominion Freight Line Stock Performance
Shares of NASDAQ ODFL traded down $2.26 during trading on Tuesday, reaching $152.85. 1,001,117 shares of the company traded hands, compared to its average volume of 1,674,246. The firm has a 50 day simple moving average of $174.63 and a 200-day simple moving average of $190.15. Old Dominion Freight Line, Inc. has a 52-week low of $145.79 and a 52-week high of $233.26. The stock has a market capitalization of $32.49 billion, a PE ratio of 27.89, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.
Old Dominion Freight Line Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is 18.98%.
Old Dominion Freight Line Company Profile
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Free Report)
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.
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