Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,659 shares of the transportation company's stock after purchasing an additional 1,811 shares during the quarter. Whittier Trust Co.'s holdings in Old Dominion Freight Line were worth $15,992,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. raised its holdings in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in 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. GAMMA Investing LLC raised its holdings in Old Dominion Freight Line by 24,499.9% in the first quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock valued at $85,105,000 after acquiring an additional 512,293 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $79,380,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ODFL. Wells Fargo & Company raised their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Bank of America raised their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $174.45.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded up $1.40 during midday trading on Thursday, reaching $162.23. The stock had a trading volume of 1,770,135 shares, compared to its average volume of 1,643,292. The firm has a fifty day simple moving average of $164.02 and a two-hundred day simple moving average of $170.32. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The stock has a market cap of $34.28 billion, a P/E ratio of 30.44, a P/E/G ratio of 3.25 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business's revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

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.