DF Dent & Co. Inc. Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

DF Dent & Co. Inc. increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 851,614 shares of the transportation company’s stock after buying an additional 32,218 shares during the period. Old Dominion Freight Line comprises approximately 1.9% of DF Dent & Co. Inc.’s holdings, making the stock its 21st biggest holding. DF Dent & Co. Inc.’s holdings in Old Dominion Freight Line were worth $150,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. ExodusPoint Capital Management LP purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $8,103,000. Arete Wealth Advisors LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $304,000. Motley Fool Asset Management LLC boosted its stake in Old Dominion Freight Line by 27.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 11,248 shares of the transportation company’s stock valued at $1,984,000 after acquiring an additional 2,421 shares during the last quarter. World Investment Advisors acquired a new position in Old Dominion Freight Line during the 4th quarter worth $360,000. Finally, Bryce Point Capital LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $1,362,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ODFL shares. Citigroup reduced their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. 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. 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 price target for the company. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Finally, Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $199.70.

Old Dominion Freight Line Stock Up 1.8 %

Shares of Old Dominion Freight Line 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 company has a market capitalization of $36.15 billion, a P/E ratio of 31.04, a PEG ratio of 2.89 and a beta of 1.10. The business’s fifty day moving average price is $181.30 and its two-hundred day moving average price is $193.06. 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 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 forecast 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. Investors 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 was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.