Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 29.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,614 shares of the transportation company’s stock after acquiring an additional 25,769 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Old Dominion Freight Line worth $46,460,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ODFL. Kestra Private Wealth Services LLC grew its position in shares of Old Dominion Freight Line by 2.4% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 1,644 shares of the transportation company’s stock worth $673,000 after acquiring an additional 39 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $783,000. Avantax Advisory Services Inc. grew its position in shares of Old Dominion Freight Line by 12.1% in the 3rd quarter. Avantax Advisory Services Inc. now owns 2,674 shares of the transportation company’s stock worth $1,094,000 after acquiring an additional 288 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Old Dominion Freight Line by 636.1% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 10,732 shares of the transportation company’s stock worth $4,391,000 after acquiring an additional 9,274 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Old Dominion Freight Line by 1.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,433 shares of the transportation company’s stock worth $14,497,000 after acquiring an additional 402 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent research reports. UBS Group raised 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. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Evercore ISI cut their target price on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Bank of America cut their target price on Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $209.13.

Get Our Latest Report on Old Dominion Freight Line

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $175.70 on Thursday. The business’s 50-day moving average price is $199.33 and its two-hundred day moving average price is $202.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. Old Dominion Freight Line, Inc. has a one year low of $149.00 and a one year high of $227.80. The company has a market capitalization of $38.18 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 2.18 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Analysts anticipate that Old Dominion Freight Line, Inc. will post 6.02 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Old Dominion Freight Line Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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