Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 92.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,195,331 shares of the transportation company’s stock after buying an additional 573,586 shares during the quarter. Thrivent Financial for Lutherans owned about 0.56% of Old Dominion Freight Line worth $210,856,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Avanza Fonder AB purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at about $3,741,000. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. Toronto Dominion Bank grew its position in shares of Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC lifted its position in Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after buying an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 2.2 %

Shares of ODFL stock opened at $166.12 on Tuesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $159.11 and a fifty-two week high of $233.26. The company has a 50 day moving average price of $185.72 and a 200 day moving average price of $195.17. The stock has a market capitalization of $35.31 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results 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 research 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price objective for the company from $193.00 to $200.00 in a report on Monday, February 24th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.