Fortis Capital Management LLC Trims Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fortis Capital Management LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 42.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,169 shares of the transportation company’s stock after selling 2,352 shares during the period. Fortis Capital Management LLC’s holdings in Old Dominion Freight Line were worth $559,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ODFL. KLP Kapitalforvaltning AS purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $12,030,000. AXQ Capital LP grew its stake in Old Dominion Freight Line by 114.8% in the 4th quarter. AXQ Capital LP now owns 4,268 shares of the transportation company’s stock worth $753,000 after buying an additional 2,281 shares in the last quarter. Sei Investments Co. grew its stake in Old Dominion Freight Line by 15.3% in the 4th quarter. Sei Investments Co. now owns 58,895 shares of the transportation company’s stock worth $10,389,000 after buying an additional 7,837 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Old Dominion Freight Line by 21.5% in the 4th quarter. American Century Companies Inc. now owns 204,391 shares of the transportation company’s stock worth $36,055,000 after acquiring an additional 36,229 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Old Dominion Freight Line by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 17,807 shares of the transportation company’s stock worth $3,141,000 after acquiring an additional 5,579 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ODFL shares. JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Truist Financial started coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Susquehanna restated a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Up 2.5 %

Shares of NASDAQ ODFL opened at $165.22 on Friday. 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 12 month low of $157.67 and a 12 month high of $233.26. The firm has a market capitalization of $35.12 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The firm has a fifty day simple moving average of $184.41 and a two-hundred day simple moving average of $194.30.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate 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%. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

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.