Invesco Ltd. Has $744.26 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Invesco Ltd. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,219,152 shares of the transportation company’s stock after selling 605,053 shares during the quarter. Invesco Ltd. owned about 1.98% of Old Dominion Freight Line worth $744,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Old Dominion Freight Line during the fourth quarter worth $494,916,000. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $128,221,000. Raymond James Financial Inc. bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $114,449,000. Thrivent Financial for Lutherans lifted its stake in shares of Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after purchasing an additional 573,586 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after purchasing an additional 437,700 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $151.41 on Tuesday. The firm’s fifty day moving average price is $178.95 and its two-hundred day moving average price is $192.11. The company has a market capitalization of $32.18 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 2.89 and a beta of 1.25. 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, Inc. has a 1 year low of $145.96 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly 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%. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their target price for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Susquehanna reduced their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Truist Financial started coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 target price on the stock. StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Finally, Evercore ISI upped their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $200.45.

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.