Waverly Advisors LLC Acquires New Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Waverly Advisors LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,855 shares of the transportation company's stock, valued at approximately $504,000.

Other hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC raised its holdings in Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after buying an additional 59 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after purchasing an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of ODFL traded down $1.82 on Friday, hitting $160.19. The company's stock had a trading volume of 472,410 shares, compared to its average volume of 1,653,110. The company has a market capitalization of $33.85 billion, a PE ratio of 29.28, a PEG 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. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The company has a 50 day moving average price of $159.58 and a 200 day moving average price of $180.63.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The firm's quarterly revenue was down 5.8% on a year-over-year basis. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Ratings Changes

ODFL has been the subject of a number of analyst reports. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Bank of America increased 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 research report on Friday, May 16th. Truist Financial lowered their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Finally, Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $182.26.

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.