Harvest Fund Management Co. Ltd Buys 2,690 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Harvest Fund Management Co. Ltd grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 27.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,565 shares of the transportation company's stock after buying an additional 2,690 shares during the period. Harvest Fund Management Co. Ltd's holdings in Old Dominion Freight Line were worth $2,107,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $35,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $45,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter worth $41,000. Brown Brothers Harriman & Co. grew its stake in Old Dominion Freight Line by 398.1% in the third 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 during the period. Finally, Versant Capital Management Inc raised its holdings 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 worth $62,000 after buying an additional 110 shares during the period. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a report on Friday, December 6th. 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 research note on Thursday, February 6th. Truist Financial initiated coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price for the company. Jefferies Financial Group lifted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a report on Friday, January 10th. Finally, Bank of America dropped their target price 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. One research 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's stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $202.65.

Remove Ads

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded up $4.83 during midday trading on Monday, reaching $170.05. 1,302,648 shares of the company traded hands, compared to its average volume of 1,568,713. The firm has a market capitalization of $36.14 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day moving average of $184.41 and a two-hundred day moving average of $194.29.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results 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%. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 annualized dividend and a yield of 0.66%. 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%.

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.