First Trust Advisors LP Buys 185,500 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

First Trust Advisors LP lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,547,441 shares of the transportation company's stock after buying an additional 185,500 shares during the period. First Trust Advisors LP owned approximately 0.72% of Old Dominion Freight Line worth $272,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co lifted its position in Old Dominion Freight Line by 1.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 184,122 shares of the transportation company's stock worth $32,463,000 after purchasing an additional 1,844 shares during the period. Osterweis Capital Management Inc. raised its holdings in shares of Old Dominion Freight Line by 24.3% during the 4th quarter. Osterweis Capital Management Inc. now owns 161,608 shares of the transportation company's stock worth $28,507,000 after buying an additional 31,644 shares in the last quarter. Farringdon Capital Ltd. bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $348,000. Marshall Wace LLP raised its stake in Old Dominion Freight Line by 423.1% during the fourth quarter. Marshall Wace LLP now owns 7,229 shares of the transportation company's stock worth $1,275,000 after acquiring an additional 5,847 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of Old Dominion Freight Line by 2.9% during the 4th quarter. Wasatch Advisors LP now owns 7,084 shares of the transportation company's stock valued at $1,250,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded up $3.49 on Thursday, reaching $156.72. 611,542 shares of the company's stock traded hands, compared to its average volume of 1,680,863. 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, Inc. has a 12 month low of $145.79 and a 12 month high of $233.26. The stock has a 50-day simple moving average of $167.57 and a 200-day simple moving average of $188.17. The firm has a market cap of $33.31 billion, a PE ratio of 28.60, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. Old Dominion Freight Line's payout ratio is 20.44%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of analyst reports. 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. JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a research note on Thursday. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their target price for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Truist Financial decreased their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a report on Thursday. Finally, Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $183.95.

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.