APG Asset Management N.V. Purchases 11,060 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

APG Asset Management N.V. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 96.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,557 shares of the transportation company’s stock after buying an additional 11,060 shares during the period. APG Asset Management N.V.’s holdings in Old Dominion Freight Line were worth $3,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth $3,741,000. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line in the fourth quarter worth $128,221,000. Toronto Dominion Bank increased its stake in Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $630,000. Finally, Board of the Pension Protection Fund purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $600,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $152.23 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $175.40 and its 200 day simple moving average is $190.47. The stock has a market cap of $32.36 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a twelve month low of $145.79 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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%. As a group, research analysts predict 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued 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 was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on ODFL shares. Barclays reduced their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price target for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Finally, Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $195.75.

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.