Itau Unibanco Holding S.A. Acquires 192 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Itau Unibanco Holding S.A. lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 518.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 229 shares of the transportation company’s stock after purchasing an additional 192 shares during the period. Itau Unibanco Holding S.A.’s holdings in Old Dominion Freight Line were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Geode Capital Management LLC lifted its holdings in Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after buying an additional 96,410 shares during the period. Norges Bank purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $494,916,000. Capital World Investors boosted its position in Old Dominion Freight Line by 1.1% during the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Northern Trust Corp grew its stake in Old Dominion Freight Line by 15.2% in the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after purchasing an additional 261,305 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock worth $272,969,000 after purchasing an additional 185,500 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $158.01 on Friday. The company has a market capitalization of $33.52 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company’s fifty day moving average price is $161.69 and its 200 day moving average price is $186.05. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business’s revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change 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 0.71%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.01%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ODFL. UBS Group cut their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. Raymond James set a $185.00 target price on Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, Truist Financial cut their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $183.37.

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.