Raymond James Financial Inc. Acquires New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Raymond James Financial Inc. acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 648,804 shares of the transportation company’s stock, valued at approximately $114,449,000. Raymond James Financial Inc. owned about 0.30% of Old Dominion Freight Line at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ODFL. Verdence Capital Advisors LLC raised its holdings in Old Dominion Freight Line by 19.4% during the fourth quarter. Verdence Capital Advisors LLC now owns 4,948 shares of the transportation company’s stock valued at $873,000 after buying an additional 803 shares in the last quarter. Aigen Investment Management LP bought a new position in Old Dominion Freight Line during the fourth quarter valued at about $468,000. Proficio Capital Partners LLC bought a new position in Old Dominion Freight Line during the fourth quarter valued at about $283,000. Assetmark Inc. raised its holdings in Old Dominion Freight Line by 9.4% during the fourth quarter. Assetmark Inc. now owns 1,600 shares of the transportation company’s stock valued at $282,000 after buying an additional 137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after buying an additional 46,570 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.1 %

Shares of ODFL opened at $179.55 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $187.08 and its 200 day moving average price is $196.49. The firm has a market capitalization of $38.16 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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 return on equity of 28.02% and a net margin of 20.40%. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ODFL. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Barclays dropped their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley lifted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $202.53.

Old Dominion Freight Line Company 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.