Thrivent Financial for Lutherans raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 92.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195,331 shares of the transportation company's stock after acquiring an additional 573,586 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.56% of Old Dominion Freight Line worth $210,856,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $41,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. grew its stake in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after acquiring an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on ODFL. Stephens reiterated an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Jefferies Financial Group lifted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a report on Friday, January 10th. Citigroup reduced their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. StockNews.com upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. Finally, Evercore ISI lifted their price target on 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $202.65.
Get Our Latest Analysis on ODFL
Old Dominion Freight Line Stock Performance
Shares of ODFL stock traded up $4.09 during trading hours on Friday, reaching $165.22. 3,629,672 shares of the company's stock were exchanged, compared to its average volume of 1,566,945. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The stock has a market capitalization of $35.12 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.89 and a beta of 1.10. The business has a fifty day moving average price of $184.41 and a 200-day moving average price of $194.30. 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 (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal 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 dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a boost 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 0.68%. Old Dominion Freight Line's payout ratio is currently 18.98%.
About Old Dominion Freight Line
(
Free Report)
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.
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