Private Trust Co. NA Buys 67 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Private Trust Co. NA boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,592 shares of the transportation company’s stock after buying an additional 67 shares during the period. Private Trust Co. NA’s holdings in Old Dominion Freight Line were worth $281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR increased its holdings in shares of Old Dominion Freight Line by 7.9% during the third quarter. Stephens Inc. AR now owns 7,456 shares of the transportation company’s stock valued at $1,481,000 after acquiring an additional 548 shares in the last quarter. Farther Finance Advisors LLC grew 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 valued at $329,000 after purchasing an additional 297 shares during the period. Chicago Partners Investment Group LLC increased its stake in Old Dominion Freight Line by 19.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,369 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 224 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Old Dominion Freight Line by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 80,655 shares of the transportation company’s stock valued at $16,021,000 after purchasing an additional 1,597 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Old Dominion Freight Line by 11.0% during the third quarter. Van ECK Associates Corp now owns 41,888 shares of the transportation company’s stock worth $7,903,000 after buying an additional 4,155 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ODFL shares. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on 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. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their target price for the company from $193.00 to $200.00 in a report on Monday, February 24th. Finally, Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $203.72.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $172.28 on Tuesday. 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 stock has a fifty day simple moving average of $187.41 and a two-hundred day simple moving average of $197.11. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The firm has a market cap of $36.62 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm 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 is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

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.