Gateway Investment Advisers LLC Raises Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gateway Investment Advisers LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,983 shares of the transportation company's stock after acquiring an additional 1,595 shares during the quarter. Gateway Investment Advisers LLC's holdings in Old Dominion Freight Line were worth $13,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $291,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Old Dominion Freight Line by 7.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,846 shares of the transportation company's stock worth $12,718,000 after purchasing an additional 4,772 shares in the last quarter. Choreo LLC boosted its stake in Old Dominion Freight Line by 25.6% during the fourth quarter. Choreo LLC now owns 7,188 shares of the transportation company's stock valued at $1,273,000 after buying an additional 1,464 shares during the last quarter. Finally, YANKCOM Partnership bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $112,000. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ODFL. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Bank of America upped their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Susquehanna decreased their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $180.42.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $160.33 on Friday. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.89 and a beta of 1.26. The business's 50 day moving average is $158.79 and its two-hundred day moving average is $178.20. 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 $144.90 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $1.34 EPS. The business's quarterly revenue was down 5.8% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Old Dominion Freight Line Company 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.

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