Thrivent Financial for Lutherans Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 92.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,195,331 shares of the transportation company’s stock after purchasing an additional 573,586 shares during the period. Thrivent Financial for Lutherans’ holdings in Old Dominion Freight Line were worth $210,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $45,000. Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Old Dominion Freight Line by 45.5% in the fourth 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. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $166.12 on Tuesday. Old Dominion Freight Line, Inc. has a 1 year low of $159.11 and a 1 year high of $233.26. The stock has a market capitalization of $35.31 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company’s fifty day moving average is $185.72 and its two-hundred day moving average is $195.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. On average, sell-side analysts predict 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 will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ODFL. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Truist Financial started 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 objective for the company. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Finally, Morgan Stanley boosted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.65.

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.