TD Asset Management Inc. Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

TD Asset Management Inc. grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 674,768 shares of the transportation company’s stock after acquiring an additional 51,574 shares during the period. TD Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $119,029,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ODFL. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $41,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. lifted its position in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares during the period. Finally, Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $167.60 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $183.88 and a two-hundred day simple moving average of $194.05. The stock has a market capitalization of $35.62 billion, a P/E ratio of 30.58, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ODFL shares. Susquehanna reaffirmed a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective on the stock. Citigroup decreased their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Evercore ISI increased their price target on 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. Finally, Barclays decreased their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $202.65.

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.