Handelsbanken Fonder AB Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Handelsbanken Fonder AB lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.1% in the fourth quarter, Holdings Channel reports. The firm owned 117,487 shares of the transportation company’s stock after buying an additional 11,715 shares during the period. Handelsbanken Fonder AB’s holdings in Old Dominion Freight Line were worth $20,725,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. SevenBridge Financial Group LLC lifted its holdings in Old Dominion Freight Line by 2.0% during the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after buying an additional 50 shares during the period. Advisors Asset Management Inc. lifted its holdings in Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after buying an additional 55 shares during the period. Hantz Financial Services Inc. lifted its holdings in Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. lifted its holdings in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after buying an additional 55 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Old Dominion Freight Line by 0.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ODFL shares. Morgan Stanley upped their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Citigroup upped their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $180.40 on Friday. The stock’s fifty day moving average price is $188.96 and its 200 day moving average price is $197.81. The company has a market cap of $38.52 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.01 and a beta of 1.05. 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 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.