Value Partners Investments Inc. Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Value Partners Investments Inc. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,875 shares of the transportation company’s stock after purchasing an additional 277 shares during the quarter. Value Partners Investments Inc.’s holdings in Old Dominion Freight Line were worth $2,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ODFL. Geode Capital Management LLC increased its holdings in Old Dominion Freight Line by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock valued at $870,311,000 after buying an additional 96,410 shares in the last quarter. Norges Bank purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. Charles Schwab Investment Management Inc. raised its holdings in Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after purchasing an additional 46,570 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after purchasing an additional 573,586 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of several research reports. Truist Financial initiated coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price target for the company. UBS Group reduced their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of 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 set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $195.75.

Old Dominion Freight Line Stock Down 2.9 %

Shares of NASDAQ:ODFL opened at $152.23 on Monday. The stock has a 50-day simple moving average of $175.40 and a 200-day simple moving average of $190.44. The stock has a market capitalization of $32.36 billion, a P/E ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1 year low of $145.79 and a 1 year 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.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data 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%. Equities analysts forecast 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 issued a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.74%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio 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.