Independent Advisor Alliance Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Independent Advisor Alliance grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 39.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,150 shares of the transportation company’s stock after acquiring an additional 1,179 shares during the period. Independent Advisor Alliance’s holdings in Old Dominion Freight Line were worth $732,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ODFL. Avanza Fonder AB bought a new position in Old Dominion Freight Line during the 4th quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank raised its holdings in shares of Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after acquiring an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $600,000. Finally, Reliant Investment Management LLC boosted its holdings in Old Dominion Freight Line by 10.4% in the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after acquiring an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 0.3 %

Shares of ODFL opened at $162.50 on Monday. The business’s 50 day moving average is $186.05 and its 200 day moving average is $195.35. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $159.35 and a 12-month high of $233.26. The company has a market capitalization of $34.54 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate 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%. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Morgan Stanley lifted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 target price on the stock. Evercore ISI raised their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $202.65.

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.