Citizens Financial Group Inc. RI acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,134 shares of the transportation company's stock, valued at approximately $376,000.
Several other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in 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 during the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Brown Brothers Harriman & Co. lifted its holdings in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after buying an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Old Dominion Freight Line by 45.5% in the 4th 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. Institutional investors and hedge funds own 77.82% of the company's stock.
Old Dominion Freight Line Stock Performance
Shares of ODFL opened at $162.98 on Friday. The company's 50 day simple moving average is $186.67 and its 200-day simple moving average is $195.81. The firm has a market cap of $34.64 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12-month low of $158.64 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick 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 quarterly earnings data 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%. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is 18.98%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on ODFL shares. Morgan Stanley upped their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. StockNews.com upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. Bank of America reduced their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Finally, Barclays reduced their target price on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $202.65.
Check Out Our Latest Stock Analysis on ODFL
About Old Dominion Freight Line
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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.
See Also
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