Inceptionr LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Inceptionr LLC acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,205 shares of the transportation company’s stock, valued at approximately $1,271,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $3,741,000. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Toronto Dominion Bank increased its position in shares of Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $600,000. Finally, Reliant Investment Management LLC increased its position in shares of 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 acquiring an additional 2,060 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.9 %

NASDAQ:ODFL opened at $176.52 on Thursday. The firm has a market capitalization of $37.52 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. The stock has a 50 day moving average of $187.27 and a 200-day moving average of $196.93. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 5th. 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 0.63%. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Analysts Set New Price Targets

ODFL has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Susquehanna reaffirmed a “neutral” rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on 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. Finally, Barclays lowered their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $200.67.

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.