Fortis Capital Management LLC Has $559,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fortis Capital Management LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 42.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,169 shares of the transportation company's stock after selling 2,352 shares during the period. Fortis Capital Management LLC's holdings in Old Dominion Freight Line were worth $559,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ODFL. SevenBridge Financial Group LLC lifted its holdings in Old Dominion Freight Line by 2.0% in the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after buying an additional 50 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock worth $2,163,000 after purchasing an additional 55 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. increased its holdings in Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Finally, Evergreen Private Wealth LLC increased its holdings in Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after purchasing an additional 59 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ODFL. Morgan Stanley boosted their target price 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. Truist Financial started coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price for the company. Stephens reissued an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Evercore ISI boosted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a report on Thursday, February 6th. Finally, Susquehanna reaffirmed a "neutral" rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $201.40.

Old Dominion Freight Line Stock Up 0.9 %

NASDAQ ODFL traded up $1.56 during trading hours on Thursday, hitting $170.23. 1,260,169 shares of the company traded hands, compared to its average volume of 1,574,491. 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 business's 50-day moving average is $183.51 and its 200-day moving average is $193.88. The stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.98%.

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.