ProShare Advisors LLC Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

ProShare Advisors LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,629 shares of the transportation company’s stock after acquiring an additional 44,258 shares during the quarter. ProShare Advisors LLC owned 0.13% of Old Dominion Freight Line worth $47,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after purchasing an additional 96,410 shares during the period. Norges Bank purchased a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $494,916,000. Capital World Investors raised its holdings in Old Dominion Freight Line by 1.1% in the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after buying an additional 27,367 shares during the period. Northern Trust Corp grew its stake in Old Dominion Freight Line by 15.2% during the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock worth $349,952,000 after buying an additional 261,305 shares during the period. Finally, First Trust Advisors LP grew its stake in Old Dominion Freight Line by 13.6% during the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock worth $272,969,000 after buying an additional 185,500 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Barclays reduced their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. StockNews.com lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Stephens restated an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.37.

Old Dominion Freight Line Stock Down 1.0%

NASDAQ:ODFL opened at $169.93 on Friday. The firm has a market capitalization of $35.91 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The stock has a 50 day moving average of $159.42 and a 200-day moving average of $183.93. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Company 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.