Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,565 shares of the transportation company’s stock after acquiring 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 filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $35,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Brown Brothers Harriman & Co. grew its position in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Bank of America decreased their target price 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. Morgan Stanley upped their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. The Goldman Sachs Group upped their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Stephens reissued an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given 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 target price of $202.65.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $162.44 on Thursday. The company has a 50 day simple moving average of $185.00 and a 200-day simple moving average of $194.72. 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 firm has a market capitalization of $34.53 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52-week low of $159.11 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict 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. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is 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.