Independent Advisor Alliance Has $732,000 Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Independent Advisor Alliance grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 39.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,150 shares of the transportation company’s stock after purchasing an additional 1,179 shares during the period. Independent Advisor Alliance’s holdings in Old Dominion Freight Line were worth $732,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the third quarter valued at about $45,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $162.50 on Monday. Old Dominion Freight Line, Inc. has a 12-month low of $159.35 and a 12-month 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. The company has a market cap of $34.54 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a 50-day moving average price of $186.05 and a 200-day moving average price of $195.35.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 18.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ODFL. Truist Financial started coverage on shares of Old Dominion Freight Line in a research note on Thursday. They set a “buy” rating and a $220.00 price target on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Bank of America lowered their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued 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 a consensus price target of $202.65.

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.