Independent Advisor Alliance Buys 93 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Independent Advisor Alliance lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 811 shares of the transportation company’s stock after acquiring an additional 93 shares during the period. Independent Advisor Alliance’s holdings in Old Dominion Freight Line were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after purchasing an additional 251,289 shares during the period. Invesco Ltd. raised its position in Old Dominion Freight Line by 1.3% in the 3rd quarter. Invesco Ltd. now owns 1,397,382 shares of the transportation company’s stock valued at $571,725,000 after buying an additional 18,418 shares during the last quarter. Northern Trust Corp lifted its stake in Old Dominion Freight Line by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,015,481 shares of the transportation company’s stock valued at $415,474,000 after acquiring an additional 52,963 shares in the last quarter. Morgan Stanley boosted its position in Old Dominion Freight Line by 7.7% during the 3rd quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock worth $393,397,000 after acquiring an additional 68,960 shares during the last quarter. Finally, London Co. of Virginia grew its stake in shares of Old Dominion Freight Line by 1.4% during the 3rd quarter. London Co. of Virginia now owns 763,321 shares of the transportation company’s stock worth $312,305,000 after acquiring an additional 10,247 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. UBS Group upped their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. TD Cowen decreased their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research note on Monday, April 29th. Finally, Susquehanna raised their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $209.08.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $175.46 on Wednesday. The company has a market capitalization of $38.13 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.86 and a beta of 1.07. The stock’s 50 day moving average is $207.97 and its 200-day moving average is $204.70. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $147.90 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insiders Place Their Bets

In other news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.90% of the company’s stock.

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.