NEOS Investment Management LLC Has $11.84 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

NEOS Investment Management LLC raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,069 shares of the transportation company’s stock after purchasing an additional 32,607 shares during the period. NEOS Investment Management LLC’s holdings in Old Dominion Freight Line were worth $11,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. Norges Bank bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $371,961,000. JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares in the last quarter. First Trust Advisors LP grew its holdings in Old Dominion Freight Line by 63.8% during the 2nd quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company’s stock worth $246,867,000 after acquiring an additional 592,605 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after buying an additional 494,674 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new stake in Old Dominion Freight Line in the third quarter worth about $65,951,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Rothschild & Co Redburn increased their price target on shares of Old Dominion Freight Line from $114.00 to $176.00 and gave the company a “sell” rating in a research report on Friday, February 6th. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Susquehanna reaffirmed a “neutral” rating and issued a $205.00 target price (up previously from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Citigroup reaffirmed a “neutral” rating and set a $216.00 target price (up from $196.00) on shares of Old Dominion Freight Line in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $217.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $189.88.

Old Dominion Freight Line Trading Up 0.1%

NASDAQ ODFL opened at $193.32 on Wednesday. The company has a market cap of $40.42 billion, a P/E ratio of 40.02, a PEG ratio of 9.65 and a beta of 1.28. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $209.61. The company has a fifty day simple moving average of $172.88 and a 200 day simple moving average of $153.34.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.29 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is currently 23.19%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.