Capital World Investors Grows Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Capital World Investors raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,510,101 shares of the transportation company's stock after acquiring an additional 27,367 shares during the quarter. Capital World Investors owned approximately 1.18% of Old Dominion Freight Line worth $442,784,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after acquiring an additional 96,410 shares in the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $494,916,000. First Trust Advisors LP increased its stake in Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after purchasing an additional 185,500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after purchasing an additional 46,570 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Old Dominion Freight Line by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,241,553 shares of the transportation company's stock worth $219,020,000 after buying an additional 141,612 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ODFL. Jefferies Financial Group decreased their price objective on shares of 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. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Truist Financial reduced their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday. Stifel Nicolaus lowered their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $183.95.

Old Dominion Freight Line Price Performance

ODFL traded up $5.67 on Thursday, hitting $158.90. 1,834,818 shares of the company were exchanged, compared to its average volume of 1,838,868. Old Dominion Freight Line, Inc. has a fifty-two week low of $145.79 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $33.77 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The business's fifty day moving average is $167.57 and its 200 day moving average is $188.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders 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 0.70%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is 20.44%.

Old Dominion Freight Line 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.