Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Raised by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,473 shares of the transportation company’s stock after acquiring an additional 3,180 shares during the period. Kinsale Capital Group Inc.’s holdings in Old Dominion Freight Line were worth $4,670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ODFL. abrdn plc lifted its stake in Old Dominion Freight Line by 15.8% in the 3rd quarter. abrdn plc now owns 61,078 shares of the transportation company’s stock worth $12,104,000 after acquiring an additional 8,329 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Old Dominion Freight Line by 16.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,706 shares of the transportation company’s stock worth $1,133,000 after acquiring an additional 806 shares in the last quarter. Financial Advocates Investment Management increased its position in Old Dominion Freight Line by 5.8% in the 3rd quarter. Financial Advocates Investment Management now owns 2,396 shares of the transportation company’s stock worth $476,000 after purchasing an additional 132 shares during the last quarter. Stephens Inc. AR increased its position in Old Dominion Freight Line by 7.9% in the 3rd quarter. Stephens Inc. AR now owns 7,456 shares of the transportation company’s stock worth $1,481,000 after purchasing an additional 548 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Old Dominion Freight Line by 21.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the transportation company’s stock worth $329,000 after purchasing an additional 297 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $176.50 on Friday. 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 capitalization of $37.68 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The stock has a 50 day moving average of $187.56 and a two-hundred day moving average of $197.25.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate 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 expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research reports. Jefferies Financial Group upped their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Citigroup upped their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Bank of America dropped their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $203.72.

About Old Dominion Freight Line

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.