Motley Fool Asset Management LLC Acquires 4,117 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Motley Fool Asset Management LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 125.9% in the 1st quarter, Holdings Channel reports. The firm owned 7,388 shares of the transportation company’s stock after purchasing an additional 4,117 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Old Dominion Freight Line were worth $1,620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ODFL. Jones Financial Companies Lllp increased its stake in shares of Old Dominion Freight Line by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after buying an additional 27 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after buying an additional 30 shares during the period. Drive Wealth Management LLC increased its stake in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock valued at $316,000 after buying an additional 39 shares during the period. Ballentine Partners LLC increased its stake in shares of Old Dominion Freight Line by 5.5% during the fourth quarter. Ballentine Partners LLC now owns 772 shares of the transportation company’s stock valued at $313,000 after buying an additional 40 shares during the period. Finally, Freedom Day Solutions LLC increased its stake in shares of Old Dominion Freight Line by 0.8% during the fourth quarter. Freedom Day Solutions LLC now owns 4,863 shares of the transportation company’s stock valued at $1,971,000 after buying an additional 40 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 2.5 %

Shares of ODFL stock traded down $5.16 during trading hours on Wednesday, reaching $198.68. 2,310,796 shares of the company’s stock were exchanged, compared to its average volume of 1,602,034. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The stock has a market cap of $43.17 billion, a PE ratio of 34.98, a PEG ratio of 2.57 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $177.89 and its two-hundred day moving average price is $198.72.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.9 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Ratings Changes

Several brokerages have recently commented on ODFL. BMO Capital Markets began coverage on Old Dominion Freight Line in a research note on Wednesday, June 5th. They set an “outperform” rating and a $210.00 price target on the stock. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They set an “underweight” rating and a $175.00 price target on the stock. Morgan Stanley cut their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Finally, Susquehanna cut their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $200.55.

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.