Horizon Investments LLC Has $581,000 Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Horizon Investments LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,296 shares of the transportation company’s stock after purchasing an additional 137 shares during the period. Horizon Investments LLC’s holdings in Old Dominion Freight Line were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares during the period. Geode Capital Management LLC boosted its stake in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP boosted its stake in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after purchasing an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after purchasing an additional 46,570 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens reissued 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. Jefferies Financial Group boosted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Evercore ISI boosted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Barclays cut their price target on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $202.65.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $161.13 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $159.11 and a twelve month high of $233.26. The firm has a fifty day simple moving average of $184.63 and a 200 day simple moving average of $194.49. The company has a market capitalization of $34.25 billion, a PE ratio of 29.40, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.