EverSource Wealth Advisors LLC Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

EverSource Wealth Advisors LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 65.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,547 shares of the transportation company’s stock after purchasing an additional 1,403 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Old Dominion Freight Line were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. Sigma Planning Corp purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth $244,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Old Dominion Freight Line by 1.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 465,063 shares of the transportation company’s stock worth $92,380,000 after buying an additional 7,505 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth $271,000. Huntington National Bank increased its stake in Old Dominion Freight Line by 20.5% during the 3rd quarter. Huntington National Bank now owns 911 shares of the transportation company’s stock worth $181,000 after buying an additional 155 shares during the period. Finally, Curi RMB Capital LLC increased its stake in Old Dominion Freight Line by 2.3% during the 3rd quarter. Curi RMB Capital LLC now owns 18,930 shares of the transportation company’s stock worth $3,760,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ODFL. Truist Financial began coverage on shares of Old Dominion Freight Line in a report on Thursday. They set a “buy” rating and a $220.00 price objective for the company. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Evercore ISI raised their price objective 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. The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. One research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Down 0.9 %

NASDAQ ODFL opened at $162.98 on Friday. 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 company’s 50 day simple moving average is $186.67 and its 200 day simple moving average is $195.81. Old Dominion Freight Line, Inc. has a 12 month low of $158.64 and a 12 month high of $233.26. The company has a market capitalization of $34.64 billion, a P/E ratio of 29.74, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 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.