MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,615 shares of the transportation company's stock after acquiring an additional 12,336 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of Old Dominion Freight Line worth $28,333,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock valued at $870,311,000 after purchasing an additional 96,410 shares during the period. Norges Bank acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $494,916,000. Capital World Investors boosted its position in Old Dominion Freight Line by 1.1% in the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock valued at $442,784,000 after buying an additional 27,367 shares during the period. Northern Trust Corp boosted its position in Old Dominion Freight Line by 15.2% in the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock valued at $349,952,000 after buying an additional 261,305 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after acquiring an additional 185,500 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on ODFL shares. Jefferies Financial Group reduced their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Truist Financial cut their price target on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays lowered their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a "buy" rating and a $236.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus price target of $182.26.
Read Our Latest Report on ODFL
Old Dominion Freight Line Stock Performance
Shares of Old Dominion Freight Line stock traded up $1.35 on Friday, hitting $171.28. The stock had a trading volume of 1,097,919 shares, compared to its average volume of 1,676,422. The stock has a market cap of $36.20 billion, a price-to-earnings ratio of 31.26, a P/E/G ratio of 2.89 and a beta of 1.31. The company has a current ratio of 1.33, a quick 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. The company's 50 day moving average price is $159.51 and its 200 day moving average price is $183.58.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Profile
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Free Report)
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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