Charles Schwab Investment Management Inc. Purchases 46,570 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,250,236 shares of the transportation company’s stock after acquiring an additional 46,570 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Old Dominion Freight Line were worth $220,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line during the third quarter valued at approximately $45,000. Brown Brothers Harriman & Co. raised its position in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ODFL shares. Morgan Stanley raised their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Bank of America decreased their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Susquehanna restated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, Barclays dropped their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $200.67.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $177.58 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The firm has a 50-day moving average price of $187.17 and a 200-day moving average price of $196.79. The firm has a market capitalization of $37.74 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. 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 released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is a boost 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 dividend 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.