1,754 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Purchased by Sciencast Management LP

Sciencast Management LP purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,754 shares of the transportation company’s stock, valued at approximately $309,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ODFL. Empowered Funds LLC lifted its position in shares of Old Dominion Freight Line by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company’s stock worth $704,000 after buying an additional 199 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 11.5% in the third quarter. PNC Financial Services Group Inc. now owns 25,718 shares of the transportation company’s stock worth $5,109,000 after acquiring an additional 2,656 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after acquiring an additional 55 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after acquiring an additional 78,587 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Old Dominion Freight Line by 35.6% in the 3rd quarter. Raymond James Trust N.A. now owns 4,087 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several research reports. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. Barclays dropped their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Evercore ISI increased 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 report on Thursday, February 6th. Morgan Stanley increased their target price 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. Finally, Susquehanna reiterated a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Trading Up 2.5 %

Shares of ODFL stock opened at $165.22 on Monday. The company has a market cap of $35.12 billion, a P/E ratio of 30.15, a PEG ratio of 2.89 and a beta of 1.10. The stock has a 50 day simple moving average of $184.41 and a two-hundred day simple moving average of $194.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

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.