Global Retirement Partners LLC Has $1.07 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Global Retirement Partners LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,067 shares of the transportation company’s stock after acquiring an additional 83 shares during the period. Global Retirement Partners LLC’s holdings in Old Dominion Freight Line were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $128,221,000. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after buying an additional 681,858 shares in the last quarter. Franklin Resources Inc. grew its position in Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the last quarter. Finally, State Street Corp grew its position in Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ODFL shares. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna reissued a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $180.40 on Friday. The stock has a market capitalization of $38.52 billion, a PE ratio of 32.92, a PEG ratio of 3.01 and a beta of 1.05. The business’s 50 day simple moving average is $188.96 and its 200 day simple moving average is $197.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

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.