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

Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,927,383 shares of the transportation company’s stock after purchasing an additional 96,410 shares during the period. Geode Capital Management LLC’s holdings in Old Dominion Freight Line were worth $870,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. State Street Corp grew its stake in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares in the last quarter. Norges Bank purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $494,916,000. Wellington Management Group LLP increased its holdings in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after purchasing an additional 46,570 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after buying an additional 573,586 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of research analyst reports. Citigroup dropped their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley upped their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Finally, Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $199.70.

Old Dominion Freight Line Trading Up 1.8 %

Shares of ODFL stock opened at $170.10 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. The firm has a market capitalization of $36.15 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a fifty day moving average of $181.30 and a two-hundred day moving average of $193.06. 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 posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. As a group, research analysts expect 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. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. 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. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. Old Dominion Freight Line’s dividend payout ratio (DPR) 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.