Virtu Financial LLC Buys New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Virtu Financial LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,772 shares of the transportation company’s stock, valued at approximately $2,429,000.

Other large investors have also bought and sold shares of the company. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $3,741,000. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. Toronto Dominion Bank boosted its holdings in Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after acquiring an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC increased its holdings in shares of Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after acquiring an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

ODFL opened at $165.22 on Friday. The firm has a market cap of $35.12 billion, a P/E ratio of 30.15, a PEG 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. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The firm has a 50-day moving average of $184.41 and a 200 day moving average of $194.30.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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, 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ODFL. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Evercore ISI upped their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on 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. Finally, Stephens reissued an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $202.65.

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.