Canal Capital Management LLC Has $99.61 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Canal Capital Management LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,660 shares of the transportation company's stock after purchasing an additional 8,706 shares during the quarter. Old Dominion Freight Line accounts for approximately 16.1% of Canal Capital Management LLC's portfolio, making the stock its largest holding. Canal Capital Management LLC owned about 0.26% of Old Dominion Freight Line worth $99,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $51,000. Versant Capital Management Inc grew its position in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after acquiring an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $69,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ODFL shares. Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the company an "outperform" rating in a research note on Thursday. Jefferies Financial Group lowered their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Truist Financial cut their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $182.95.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $12.16 during trading hours on Friday, reaching $146.74. 4,092,818 shares of the company's stock were exchanged, compared to its average volume of 1,684,084. The company has a market capitalization of $31.19 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 12 month low of $144.96 and a 12 month high of $233.26. The business's 50-day simple moving average is $166.62 and its two-hundred day simple moving average is $187.97. 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, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.76%. Old Dominion Freight Line's payout ratio is currently 20.44%.

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.