Toronto Dominion Bank Grows Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Toronto Dominion Bank grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 107,584 shares of the transportation company's stock after buying an additional 9,523 shares during the quarter. Toronto Dominion Bank owned 0.05% of Old Dominion Freight Line worth $18,978,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock valued at $870,311,000 after buying an additional 96,410 shares during the period. Norges Bank purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $494,916,000. Capital World Investors lifted its stake in Old Dominion Freight Line by 1.1% during the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after purchasing an additional 27,367 shares during the last quarter. Northern Trust Corp lifted its stake in Old Dominion Freight Line by 15.2% during the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after purchasing an additional 261,305 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Old Dominion Freight Line by 13.6% during the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after purchasing an additional 185,500 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $0.59 during trading on Thursday, reaching $163.60. The company had a trading volume of 1,264,360 shares, compared to its average volume of 1,670,612. The firm has a market capitalization of $34.57 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock's fifty day moving average price is $159.77 and its 200 day moving average price is $182.75. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. Old Dominion Freight Line's quarterly revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. Old Dominion Freight Line's payout ratio is 21.01%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a research note on Thursday, April 24th. Raymond James set a $185.00 target price on Old Dominion Freight Line and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Bank of America boosted their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Susquehanna decreased their target price on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $182.26.

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.