Syon Capital LLC Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Syon Capital LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593 shares of the transportation company’s stock after acquiring an additional 65 shares during the period. Syon Capital LLC’s holdings in Old Dominion Freight Line were worth $240,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Old Dominion Freight Line during the 4th quarter valued at about $495,387,000. International Assets Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 39,016.7% in the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after acquiring an additional 703,471 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Old Dominion Freight Line by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares during the period. Parnassus Investments LLC grew its stake in shares of Old Dominion Freight Line by 42.4% in the fourth quarter. Parnassus Investments LLC now owns 339,520 shares of the transportation company’s stock worth $137,618,000 after acquiring an additional 101,079 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after acquiring an additional 81,122 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ODFL shares. Barclays reduced their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. TD Cowen reduced their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target for the company. UBS Group lifted their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $204.97.

Old Dominion Freight Line Price Performance

ODFL stock opened at $173.30 on Wednesday. Old Dominion Freight Line, Inc. has a one year low of $158.60 and a one year high of $227.80. The company’s fifty day moving average price is $186.63 and its 200-day moving average price is $201.26. 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 company has a market capitalization of $37.66 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 6.01 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Old Dominion Freight Line 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.