Commonwealth Equity Services LLC Has $3.53 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Commonwealth Equity Services LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 20,028 shares of the transportation company’s stock after purchasing an additional 109 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Old Dominion Freight Line were worth $3,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ODFL. Wellington Management Group LLP increased its stake in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the period. AustralianSuper Pty Ltd bought a new position in Old Dominion Freight Line during the 4th quarter worth $128,221,000. Raymond James Financial Inc. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $114,449,000. Franklin Resources Inc. boosted its position in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $49,983,000. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent research reports. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. Morgan Stanley boosted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Citigroup lowered their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Finally, Bank of America decreased their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $170.05 on Tuesday. The stock’s 50-day moving average is $184.20 and its 200-day moving average is $194.17. The stock has a market cap of $36.14 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. 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 (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.