Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 68.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 234,794 shares of the transportation company's stock after purchasing an additional 95,725 shares during the period. Lord Abbett & CO. LLC owned 0.11% of Old Dominion Freight Line worth $41,418,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in shares of Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after acquiring an additional 55 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC lifted its holdings in shares of Old Dominion Freight Line by 0.9% during the 4th 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. Dorsey & Whitney Trust CO LLC boosted its position in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in Old Dominion Freight Line by 0.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after buying an additional 62 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 0.4 %

NASDAQ:ODFL traded up $0.65 during mid-day trading on Tuesday, hitting $149.65. The stock had a trading volume of 2,025,949 shares, compared to its average volume of 1,675,925. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve 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. The company has a market capitalization of $31.75 billion, a PE ratio of 27.31, a PEG ratio of 2.89 and a beta of 1.25. The stock has a 50-day simple moving average of $164.25 and a two-hundred day simple moving average of $187.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the business posted $1.34 EPS. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.75%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research analyst reports. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their target price on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Evercore ISI dropped their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Finally, Jefferies Financial Group reduced 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. Two investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $182.95.

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.