Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,948 shares of the transportation company’s stock after acquiring an additional 803 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Old Dominion Freight Line were worth $873,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $468,000. Proficio Capital Partners LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $283,000. Assetmark Inc. boosted its position in Old Dominion Freight Line by 9.4% during the fourth quarter. Assetmark Inc. now owns 1,600 shares of the transportation company’s stock worth $282,000 after acquiring an additional 137 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 46,570 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Old Dominion Freight Line by 15.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,053 shares of the transportation company’s stock valued at $1,244,000 after purchasing an additional 921 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of 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. Barclays decreased their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Bank of America decreased their price target on shares of 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $200.67.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $176.52 on Thursday. The firm’s fifty day moving average price is $187.27 and its 200 day moving average price is $196.93. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. 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 released its earnings results 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%. On average, 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 will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 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.