Truist Financial Corp Acquires 9,104 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Truist Financial Corp lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,594 shares of the transportation company’s stock after acquiring an additional 9,104 shares during the quarter. Truist Financial Corp’s holdings in Old Dominion Freight Line were worth $16,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SevenBridge Financial Group LLC increased its stake in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Old Dominion Freight Line by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after acquiring an additional 55 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after acquiring an additional 55 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of Old Dominion Freight Line by 0.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after acquiring an additional 62 shares during the period. Finally, Valmark Advisers Inc. grew its stake in shares of Old Dominion Freight Line by 2.9% in the fourth quarter. Valmark Advisers Inc. now owns 2,431 shares of the transportation company’s stock worth $429,000 after acquiring an additional 68 shares during the period. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Evercore ISI raised their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on 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 Price Performance

ODFL stock opened at $205.11 on Thursday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company’s fifty day moving average price is $189.48 and its 200-day moving average price is $197.91. 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 company has a market capitalization of $43.79 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 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, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.