NEOS Investment Management LLC Increases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

NEOS Investment Management LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,967 shares of the transportation company’s stock after buying an additional 4,514 shares during the period. NEOS Investment Management LLC’s holdings in Old Dominion Freight Line were worth $4,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hantz Financial Services Inc. grew its position in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. grew its holdings in Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after purchasing an additional 55 shares during the period. Evergreen Private Wealth LLC increased its stake in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 59 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after purchasing an additional 62 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Up 0.9 %

Shares of Old Dominion Freight Line stock opened at $170.23 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. The company’s fifty day simple moving average is $183.12 and its 200-day simple moving average is $193.71. 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 stock has a market capitalization of $36.18 billion, a PE ratio of 31.06, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.66%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ODFL. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Evercore ISI lifted their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. 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 report on Monday, March 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $201.40.

Old Dominion Freight Line Company 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.