NEOS Investment Management LLC Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

NEOS Investment Management LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,967 shares of the transportation company’s stock after purchasing an additional 4,514 shares during the period. NEOS Investment Management LLC’s holdings in Old Dominion Freight Line were worth $4,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $41,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at $45,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $51,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.9 %

Shares of Old Dominion Freight Line stock opened at $170.23 on Friday. 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 52-week low of $157.67 and a 52-week high of $233.26. The company’s 50 day moving average price is $183.12 and its 200-day moving average price is $193.71. The stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.66%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Ratings Changes

ODFL has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Morgan Stanley increased their target price 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. Evercore ISI boosted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. Citigroup lowered their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Truist Financial started coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 target price for the company. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $201.40.

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.