Whittier Trust Co. of Nevada Inc. Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Whittier Trust Co. of Nevada Inc. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,710 shares of the transportation company’s stock after purchasing an additional 2,133 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Old Dominion Freight Line were worth $8,416,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ODFL. Avanza Fonder AB acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $3,741,000. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $128,221,000. Toronto Dominion Bank increased its position in shares of 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 valued at $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $600,000. Finally, Reliant Investment Management LLC increased its position in shares of 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 valued at $3,854,000 after acquiring an additional 2,060 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Evercore ISI lifted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Morgan Stanley lifted 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. Barclays dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Finally, Citigroup dropped their price objective on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Down 0.8 %

Shares of NASDAQ:ODFL opened at $161.13 on Friday. The company has a market capitalization of $34.25 billion, a PE ratio of 29.40, a P/E/G ratio of 2.89 and a beta of 1.10. 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, Inc. has a twelve month low of $159.11 and a twelve month high of $233.26. The firm has a 50 day simple moving average of $184.63 and a 200-day simple moving average of $194.49.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate 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 predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

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.