Truist Financial Corp Boosts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Truist Financial Corp increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,594 shares of the transportation company's stock after buying an additional 9,104 shares during the period. Truist Financial Corp's holdings in Old Dominion Freight Line were worth $16,510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Old Dominion Freight Line by 72.2% during the third quarter. Blue Trust Inc. now owns 1,746 shares of the transportation company's stock valued at $347,000 after purchasing an additional 732 shares during the period. Sequoia Financial Advisors LLC raised its stake in Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after buying an additional 1,017 shares during the period. Segment Wealth Management LLC boosted its holdings in Old Dominion Freight Line by 0.8% in the third quarter. Segment Wealth Management LLC now owns 9,754 shares of the transportation company's stock worth $1,938,000 after acquiring an additional 76 shares in the last quarter. Private Advisor Group LLC grew its stake in Old Dominion Freight Line by 3.6% in the third quarter. Private Advisor Group LLC now owns 9,638 shares of the transportation company's stock valued at $1,914,000 after acquiring an additional 339 shares during the period. Finally, Hartford Investment Management Co. grew its stake in Old Dominion Freight Line by 3.8% in the third quarter. Hartford Investment Management Co. now owns 11,856 shares of the transportation company's stock valued at $2,355,000 after acquiring an additional 436 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded down $13.53 during midday trading on Friday, reaching $183.72. 4,199,527 shares of the stock were exchanged, compared to its average volume of 1,590,988. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 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. The firm has a market cap of $39.22 billion, a PE ratio of 33.59, a PEG ratio of 3.01 and a beta of 1.05. The company's fifty day moving average is $189.37 and its 200-day moving average is $197.90.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.61%. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. Argus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target of $203.33.

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.