Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Perpetual Ltd

Perpetual Ltd raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,680 shares of the transportation company’s stock after purchasing an additional 840 shares during the period. Perpetual Ltd’s holdings in Old Dominion Freight Line were worth $368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 27 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 3.1% during the 3rd quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock worth $397,000 after acquiring an additional 29 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Old Dominion Freight Line by 14.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock worth $96,000 after acquiring an additional 30 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of Old Dominion Freight Line by 1.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after acquiring an additional 30 shares during the period. Finally, Drive Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock worth $316,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $174.89 on Friday. Old Dominion Freight Line, Inc. has a one year low of $162.77 and a one year high of $227.80. The company has a market cap of $38.00 billion, a PE ratio of 30.79, a P/E/G ratio of 2.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The business has a 50-day simple moving average of $182.99 and a 200-day simple moving average of $200.49.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.98 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Analysts Set New Price Targets

ODFL has been the topic of several analyst reports. Raymond James lifted their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a report on Monday, April 29th. UBS Group lifted their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Susquehanna reduced their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $204.97.

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.