DF Dent & Co. Inc. Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

DF Dent & Co. Inc. increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 851,614 shares of the transportation company's stock after buying an additional 32,218 shares during the period. Old Dominion Freight Line accounts for 1.9% of DF Dent & Co. Inc.'s holdings, making the stock its 21st biggest position. DF Dent & Co. Inc. owned about 0.40% of Old Dominion Freight Line worth $150,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $494,916,000. Wellington Management Group LLP grew its holdings in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock valued at $285,094,000 after purchasing an additional 750,073 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after buying an additional 573,586 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America reduced their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Stephens restated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Truist Financial started coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $199.70.

Old Dominion Freight Line Trading Down 2.4 %

Old Dominion Freight Line stock traded down $3.69 during midday trading on Friday, reaching $152.06. 3,326,316 shares of the stock traded hands, compared to its average volume of 1,646,353. 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 firm has a market cap of $32.32 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a 50-day simple moving average of $179.81 and a two-hundred day simple moving average of $192.51. Old Dominion Freight Line, Inc. has a 12-month low of $147.06 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Research analysts expect 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 given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.98%.

About Old Dominion Freight Line

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.