Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Lifted by Quantbot Technologies LP

Quantbot Technologies LP increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 603.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,661 shares of the transportation company’s stock after acquiring an additional 10,862 shares during the period. Quantbot Technologies LP’s holdings in Old Dominion Freight Line were worth $2,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank boosted its holdings in shares of Old Dominion Freight Line by 77.7% in 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 bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $630,000. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ODFL shares. Wells Fargo & Company cut their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their target price for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 target price for the company. Evercore ISI increased their target price on shares of 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, Morgan Stanley increased their target price on shares of 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. 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $202.65.

Old Dominion Freight Line Stock Up 2.5 %

ODFL stock opened at $165.22 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $35.12 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.89 and a beta of 1.10. The company has a 50 day moving average of $184.41 and a two-hundred day moving average of $194.29. Old Dominion Freight Line, Inc. has a 12-month low of $157.67 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. On average, equities analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase 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 dividend payout ratio (DPR) 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.