Wasatch Advisors LP Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wasatch Advisors LP grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,084 shares of the transportation company’s stock after purchasing an additional 199 shares during the period. Wasatch Advisors LP’s holdings in Old Dominion Freight Line were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $51,000. Versant Capital Management Inc increased its stake 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 purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $69,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ODFL. Truist Financial started coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price on the stock. UBS Group dropped their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus cut their target price on shares of Old Dominion Freight Line from $200.00 to $188.00 and set a “buy” rating for the company in a research report on Monday. Evercore ISI increased their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. 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. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $195.15.

Old Dominion Freight Line Stock Up 4.0 %

Shares of ODFL opened at $153.75 on Friday. The firm has a market cap of $32.68 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. 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 company’s fifty day moving average is $171.82 and its two-hundred day moving average is $189.29. Old Dominion Freight Line, Inc. has a fifty-two week low of $145.79 and a fifty-two 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, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 20.44%.

Old Dominion Freight Line 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.