Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 29.2% during the 4th quarter, Holdings Channel reports. The fund owned 5,807 shares of the transportation company’s stock after purchasing an additional 1,314 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Old Dominion Freight Line were worth $1,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Old Dominion Freight Line by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock valued at $870,311,000 after purchasing an additional 96,410 shares in the last quarter. Norges Bank acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $494,916,000. Capital World Investors lifted its stake in Old Dominion Freight Line by 1.1% in the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock worth $442,784,000 after acquiring an additional 27,367 shares during the last quarter. First Trust Advisors LP grew its holdings in Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock worth $272,969,000 after acquiring an additional 185,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 1.5 %

Shares of Old Dominion Freight Line stock opened at $152.07 on Wednesday. Old Dominion Freight Line, Inc. has a one year low of $145.79 and a one year high of $233.26. The company has a market cap of $32.32 billion, a P/E ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25. 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 firm has a fifty day moving average of $168.63 and a two-hundred day moving average of $188.41.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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, analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. 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 dividend yield of 0.74%. Old Dominion Freight Line’s payout ratio is 20.44%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group dropped their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Truist Financial assumed coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective on the stock. Finally, Raymond James lowered their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $195.15.

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.