E Fund Management Co. Ltd. Boosts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

E Fund Management Co. Ltd. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,969 shares of the transportation company’s stock after purchasing an additional 707 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $524,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ODFL. Wellington Management Group LLP lifted its stake in 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 last quarter. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Raymond James Financial Inc. acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $114,449,000. Franklin Resources Inc. boosted its holdings 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 stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $49,983,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Susquehanna reissued a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Barclays decreased their price objective on 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 research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $202.53.

Old Dominion Freight Line Trading Up 1.1 %

NASDAQ:ODFL opened at $179.55 on Friday. The stock has a fifty day moving average price of $187.10 and a two-hundred day moving average price of $196.65. The stock has a market capitalization of $38.16 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.89 and a beta of 1.10. 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 1 year low of $165.49 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

About Old Dominion Freight Line

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.