Neuburgh Advisers LLC Boosts Position in Old Dominion Freight Line (NASDAQ:ODFL)

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Neuburgh Advisers LLC increased its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,152 shares of the transportation company’s stock after purchasing an additional 192 shares during the quarter. Neuburgh Advisers LLC’s holdings in Old Dominion Freight Line were worth $2,188,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its stake in Old Dominion Freight Line by 42.5% in the first quarter. CWM LLC now owns 258 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 77 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Old Dominion Freight Line by 2.3% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,700 shares of the transportation company’s stock valued at $534,000 after purchasing an additional 82 shares during the period. TD Asset Management Inc. raised its position in shares of Old Dominion Freight Line by 2.5% in the fourth quarter. TD Asset Management Inc. now owns 3,519 shares of the transportation company’s stock valued at $435,000 after purchasing an additional 86 shares during the period. JOYN Advisors Inc. raised its position in shares of Old Dominion Freight Line by 58.2% in the fourth quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 110 shares during the period. Finally, Malaga Cove Capital LLC raised its position in shares of Old Dominion Freight Line by 1.8% in the first quarter. Malaga Cove Capital LLC now owns 6,639 shares of the transportation company’s stock valued at $959,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 70.56% of the company’s stock.

A number of equities analysts have recently commented on ODFL shares. Citigroup lifted their price target on shares of Old Dominion Freight Line from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research report on Monday, March 11th. Bank of America lowered shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $154.00 to $158.00 in a research report on Tuesday, February 26th. ValuEngine lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $147.80.

Shares of ODFL stock opened at $140.30 on Friday. Old Dominion Freight Line has a 1 year low of $115.00 and a 1 year high of $170.22. The firm has a market cap of $11.36 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.40 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.19 and a current ratio of 2.19.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.06. Old Dominion Freight Line had a net margin of 15.32% and a return on equity of 23.87%. The business had revenue of $990.78 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Old Dominion Freight Line’s revenue was up 7.1% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line will post 7.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Tuesday, June 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.21%.

Old Dominion Freight Line announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 16th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

Read More: What is a good rate of return for a mutual fund?

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

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