O Shaughnessy Asset Management LLC Boosts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

O Shaughnessy Asset Management LLC raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,237 shares of the transportation company’s stock after buying an additional 3,905 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Old Dominion Freight Line were worth $7,803,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ODFL. State Street Corp boosted its position in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Geode Capital Management LLC lifted its position in Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $494,916,000. Wellington Management Group LLP raised its position in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after acquiring an additional 46,570 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial began coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective on the stock. Barclays decreased their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Morgan Stanley lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Susquehanna reduced their target price on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $200.20.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $167.09 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. The business has a 50-day moving average price of $181.68 and a 200 day moving average price of $193.23. The company has a market capitalization of $35.51 billion, a P/E ratio of 30.49, a PEG ratio of 2.89 and a beta of 1.10. 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 results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. 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 is currently 18.98%.

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.