Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Vontobel Holding Ltd.
Vontobel Holding Ltd. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.5% in Q4, now owning 12,478 shares valued at $2.2 million. Other institutional investors also adjusted their positions. Analysts have set a consensus rating of "Hold" with a target price of $203.33. Old Dominion reported Q4 earnings of $1.23 per share, exceeding estimates, and announced a dividend increase to $0.28, payable on March 19.
Vontobel Holding Ltd. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,478 shares of the transportation company's stock after acquiring an additional 2,688 shares during the period. Vontobel Holding Ltd.'s holdings in Old Dominion Freight Line were worth $2,201,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $45,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. Brown Brothers Harriman & Co. raised its position in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after buying an additional 215 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $64,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 77.82% of the company's stock.
Analysts Set New Price Targets
ODFL has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. Argus lowered shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a research report on Thursday, October 24th. Susquehanna restated a "neutral" rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Barclays lowered their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $203.33.
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View Our Latest Stock Report on Old Dominion Freight Line
Old Dominion Freight Line Price Performance
ODFL opened at $206.34 on Tuesday. The company has a market cap of $44.05 billion, a P/E ratio of 37.65, a P/E/G ratio of 5.30 and a beta of 1.05. The company has a 50 day moving average of $189.39 and a two-hundred day moving average of $197.76. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.
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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results 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%. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.
Old Dominion Freight Line Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. Old Dominion Freight Line's dividend payout ratio is 18.98%.
Old Dominion Freight Line Profile
(Free Report)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.
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