Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,854 shares of the transportation company’s stock after acquiring an additional 3,095 shares during the period. UniSuper Management Pty Ltd’s holdings in Old Dominion Freight Line were worth $2,973,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Old Dominion Freight Line by 109.5% during the 3rd 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 during the 4th quarter worth approximately $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $114,449,000. Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after acquiring an additional 573,586 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake 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 worth $207,068,000 after acquiring an additional 437,700 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $164.85 on Friday. The stock has a fifty day moving average price of $182.63 and a two-hundred day moving average price of $193.55. The firm has a market cap of $35.04 billion, a P/E ratio of 30.08, a PEG 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 debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Ratings Changes

Several research analysts recently commented on ODFL shares. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price objective for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price on the stock. The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. Finally, Morgan Stanley raised their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $201.40.

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.