Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Nebula Research & Development LLC

Nebula Research & Development LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,772 shares of the transportation company's stock after buying an additional 5,162 shares during the quarter. Nebula Research & Development LLC's holdings in Old Dominion Freight Line were worth $2,606,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB purchased a new stake in Old Dominion Freight Line in the 4th quarter worth about $3,741,000. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $128,221,000. Blueshift Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $630,000. Board of the Pension Protection Fund purchased a new position in Old Dominion Freight Line during the 4th quarter valued at $600,000. Finally, Reliant Investment Management LLC boosted its holdings in Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after acquiring an additional 2,060 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock traded down $12.16 during trading on Friday, hitting $146.74. 4,092,818 shares of the company's stock were exchanged, compared to its average volume of 1,673,208. The business has a 50-day simple moving average of $165.37 and a 200-day simple moving average of $187.56. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-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.

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. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. On average, research analysts forecast 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 $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.76%. 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 21.01%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. UBS Group lowered their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Truist Financial reduced their price target on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a report on Thursday. StockNews.com downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Finally, Raymond James set a $185.00 price objective on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a research note on Thursday. 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $182.95.

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.