Modera Wealth Management LLC Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Modera Wealth Management LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,878 shares of the transportation company’s stock after acquiring an additional 206 shares during the quarter. Modera Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $508,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ODFL. Wellington Management Group LLP lifted its stake in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $128,221,000. Franklin Resources Inc. lifted its position in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $49,983,000. Finally, State Street Corp boosted its stake in Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 1.6 %

Shares of NASDAQ ODFL opened at $174.99 on Wednesday. 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 market capitalization of $37.19 billion, a PE ratio of 31.93, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock has a fifty day simple moving average of $187.27 and a 200-day simple moving average of $196.93.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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%. On average, equities analysts forecast 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. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of analyst reports. Barclays dropped their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Bank of America dropped their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group lifted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Morgan Stanley upped their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Citigroup reduced their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $200.67.

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.