Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by PDS Planning Inc

PDS Planning Inc cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,271 shares of the transportation company’s stock after selling 79 shares during the period. PDS Planning Inc’s holdings in Old Dominion Freight Line were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ODFL. SevenBridge Financial Group LLC boosted its stake in Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after buying an additional 55 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after acquiring an additional 55 shares during the period. D.A. Davidson & CO. lifted its position in Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after acquiring an additional 55 shares during the period. Finally, Evergreen Private Wealth LLC lifted its position in Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ODFL shares. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Citigroup cut their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $162.44 on Thursday. The firm has a market cap of $34.53 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a 50 day moving average of $185.00 and a two-hundred day moving average of $194.72. Old Dominion Freight Line, Inc. has a 12 month low of $159.11 and a 12 month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. 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 dividend yield of 0.69%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 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.