Geneva Capital Management LLC Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Geneva Capital Management LLC grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 145.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,823 shares of the transportation company’s stock after purchasing an additional 37,770 shares during the period. Geneva Capital Management LLC’s holdings in Old Dominion Freight Line were worth $13,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $29,000. Headinvest LLC purchased a new stake in Old Dominion Freight Line during the third quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Evercore ISI restated an “in-line” rating and set a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a report on Thursday, June 6th. Raymond James decreased their price objective on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, Barclays decreased their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $200.55.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded up $4.64 during trading hours on Thursday, reaching $186.76. The stock had a trading volume of 1,569,926 shares, compared to its average volume of 1,588,305. The stock’s fifty day simple moving average is $177.04 and its 200 day simple moving average is $199.10. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The firm has a market capitalization of $40.58 billion, a PE ratio of 32.06, a PEG ratio of 2.36 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 annualized dividend and a yield of 0.56%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

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.