Canal Capital Management LLC boosted its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,336 shares of the transportation company’s stock after buying an additional 1,126 shares during the period. Old Dominion Freight Line makes up about 8.9% of Canal Capital Management LLC’s investment portfolio, making the stock its biggest position. Canal Capital Management LLC’s holdings in Old Dominion Freight Line were worth $13,131,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Stratos Wealth Partners LTD. bought a new stake in Old Dominion Freight Line in the third quarter valued at approximately $120,000. Gradient Investments LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at approximately $137,000. Harvest Fund Management Co. Ltd bought a new stake in Old Dominion Freight Line in the third quarter valued at approximately $142,000. Finally, TRUE Private Wealth Advisors bought a new stake in Old Dominion Freight Line in the third quarter valued at approximately $145,000. Institutional investors and hedge funds own 77.41% of the company’s stock.
Several brokerages have commented on ODFL. KeyCorp upped their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. Cowen upped their target price on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $147.00 target price on shares of Old Dominion Freight Line in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $143.45.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, February 7th. The transportation company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.21. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. Old Dominion Freight Line’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.39 EPS. As a group, equities research analysts predict that Old Dominion Freight Line will post 7.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be paid a $0.17 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, March 5th. This represents a $0.68 annualized dividend and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is 7.05%.
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About Old Dominion Freight Line
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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
Further Reading: What is the Ex-Dividend Date in Investing?
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