Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Citigroup Inc.

Citigroup Inc. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 51.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,466 shares of the transportation company’s stock after purchasing an additional 34,681 shares during the quarter. Citigroup Inc. owned 0.09% of Old Dominion Freight Line worth $41,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Old Dominion Freight Line by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,860,421 shares of the transportation company’s stock valued at $3,243,791,000 after purchasing an additional 113,806 shares during the period. State Street Corp lifted its stake in Old Dominion Freight Line by 1.5% in the 2nd quarter. State Street Corp now owns 3,702,786 shares of the transportation company’s stock worth $1,369,105,000 after acquiring an additional 53,213 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Old Dominion Freight Line by 64.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,599,786 shares of the transportation company’s stock worth $1,331,021,000 after acquiring an additional 1,415,329 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Old Dominion Freight Line by 8.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,287,198 shares of the transportation company’s stock worth $845,692,000 after acquiring an additional 182,969 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Old Dominion Freight Line by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,247,422 shares of the transportation company’s stock worth $830,035,000 after acquiring an additional 51,796 shares in the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ODFL. Deutsche Bank Aktiengesellschaft downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $475.00 to $386.00 in a research note on Monday, November 27th. Susquehanna raised their price target on Old Dominion Freight Line from $465.00 to $515.00 and gave the stock a “positive” rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on Old Dominion Freight Line from $400.00 to $444.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $505.00 to $435.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Finally, Citigroup cut their price objective on Old Dominion Freight Line from $450.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.20.

Get Our Latest Analysis on Old Dominion Freight Line

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $435.33 on Monday. The stock has a 50 day moving average price of $397.01 and a 200 day moving average price of $402.42. Old Dominion Freight Line, Inc. has a 52 week low of $295.80 and a 52 week high of $448.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.73 and a current ratio of 2.10. The stock has a market capitalization of $47.50 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The transportation company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.86 by $0.08. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the firm posted $2.92 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 12.91 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is 14.21%.

Old Dominion Freight Line Company Profile

(Free Report)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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