Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 691,568 shares of the transportation company’s stock after acquiring an additional 3,943 shares during the quarter. Old Dominion Freight Line accounts for 1.4% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 20th largest position. Bridges Investment Management Inc. owned 0.33% of Old Dominion Freight Line worth $108,438,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after acquiring an additional 494,674 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after acquiring an additional 776,004 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares during the period. Norges Bank purchased a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $444,983,000. Finally, Boston Partners purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $292,599,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 0.2%

Shares of NASDAQ:ODFL opened at $229.08 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79. The company’s 50 day moving average is $205.73 and its two-hundred day moving average is $182.95. The company has a market cap of $47.64 billion, a PE ratio of 47.92, a P/E/G ratio of 4.68 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted $1.19 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $183.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Barclays set a $210.00 target price on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Wells Fargo & Company upped their target price on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $207.08.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.00% of the stock is owned by company insiders.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.