Caisse Des Depots ET Consignations bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,634 shares of the transportation company's stock, valued at approximately $465,000.
Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at $45,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $41,000. Brown Brothers Harriman & Co. raised its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after buying an additional 215 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $51,000. 77.82% of the stock is currently owned by institutional investors.
Old Dominion Freight Line Stock Performance
Old Dominion Freight Line stock traded up $0.54 during midday trading on Monday, reaching $165.39. The stock had a trading volume of 750,583 shares, compared to its average volume of 1,763,333. The firm has a market capitalization of $35.15 billion, a PE ratio of 30.18, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $182.63 and its 200 day moving average price is $193.59.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates 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%. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.
Old Dominion Freight Line Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is presently 18.98%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Truist Financial began coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price on the stock. Evercore ISI boosted their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. Bank of America decreased their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Jefferies Financial Group raised their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $200.20.
View Our Latest Research Report on Old Dominion Freight Line
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.
Further Reading
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