Peterson Wealth Services Raises Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Peterson Wealth Services grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,464 shares of the transportation company’s stock after acquiring an additional 130 shares during the period. Peterson Wealth Services’ holdings in Old Dominion Freight Line were worth $2,551,000 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. Avanza Fonder AB purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $3,741,000. Toronto Dominion Bank boosted its holdings in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $600,000. Sequoia Financial Advisors LLC boosted its holdings in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares in the last quarter. Finally, Reliant Investment Management LLC boosted its holdings in Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after buying an additional 2,060 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $201.78 on Tuesday. The firm has a 50 day simple moving average of $189.63 and a 200-day simple moving average of $197.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $43.08 billion, a PE ratio of 36.82, a P/E/G ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared 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 is a positive change 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 yield of 0.56%. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Analyst Ratings Changes

A number of research firms recently commented on ODFL. Stifel Nicolaus boosted their price objective on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Friday. Evercore ISI boosted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets cut their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $203.33.

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.