Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 518.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 229 shares of the transportation company’s stock after buying an additional 192 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Old Dominion Freight Line were worth $40,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Old Dominion Freight Line in the 3rd quarter worth approximately $1,718,000. Synovus Financial Corp lifted its position in Old Dominion Freight Line by 2.4% during the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company’s stock worth $866,000 after buying an additional 101 shares in the last quarter. Franklin Resources Inc. boosted its stake in Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after buying an additional 437,700 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Old Dominion Freight Line by 5.2% in the 3rd quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company’s stock valued at $8,213,000 after buying an additional 2,044 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth $27,625,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an “underweight” rating in a report on Thursday, April 24th. Stephens reissued an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Citigroup upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Barclays reduced their target price on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $183.37.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $158.01 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The firm has a 50 day moving average of $161.69 and a two-hundred day moving average of $186.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $33.52 billion, a PE ratio of 28.83, a P/E/G ratio of 2.89 and a beta of 1.25.

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

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.71%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.01%.

Old Dominion Freight Line 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.