Geode Capital Management LLC Purchases 96,410 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Geode Capital Management LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,927,383 shares of the transportation company's stock after buying an additional 96,410 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of Old Dominion Freight Line worth $870,311,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line in the fourth quarter worth $51,000. Versant Capital Management Inc grew its stake 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 purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $69,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $3.69 during trading hours on Friday, hitting $152.06. 3,326,316 shares of the company's stock traded hands, compared to its average volume of 1,646,353. Old Dominion Freight Line, Inc. has a 52 week low of $147.06 and a 52 week high of $233.26. The business's fifty day simple moving average is $179.81 and its two-hundred day simple moving average is $192.51. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $32.32 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was 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 currently 18.98%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 target price for the company. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and increased their price objective for the company from $193.00 to $200.00 in a report on Monday, February 24th. Finally, Citigroup lowered their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and an average target price of $199.70.

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.