Advisory Services Network LLC Buys 1,484 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Advisory Services Network LLC boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,859 shares of the transportation company’s stock after purchasing an additional 1,484 shares during the period. Advisory Services Network LLC’s holdings in Old Dominion Freight Line were worth $1,386,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after buying an additional 96,410 shares during the period. Norges Bank acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $494,916,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Old Dominion Freight Line by 3.9% in 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 purchasing an additional 46,570 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after purchasing an additional 573,586 shares in the last quarter. Finally, 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 worth $207,068,000 after purchasing an additional 437,700 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ODFL shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price target on the stock. Raymond James lowered their target price on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Bank of America lowered their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group dropped their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $195.75.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $152.23 on Friday. 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 50 day simple moving average of $175.40 and a 200 day simple moving average of $190.47. Old Dominion Freight Line, Inc. has a 1-year low of $145.79 and a 1-year high of $233.26. The stock has a market cap of $32.36 billion, a P/E ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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%. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.74%. Old Dominion Freight Line’s payout ratio is 18.98%.

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.