Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,927,383 shares of the transportation company’s stock after buying an additional 96,410 shares during the period. Geode Capital Management LLC owned approximately 2.31% of Old Dominion Freight Line worth $870,311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after buying an additional 55 shares during the last quarter. Evergreen Private Wealth LLC raised its stake in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after buying an additional 59 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after acquiring an additional 62 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $170.10 on Thursday. The business’s 50-day simple moving average is $181.30 and its 200-day simple moving average is $193.06. The firm has a market capitalization of $36.15 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year 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.

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 predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $199.70.

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.