PDS Planning Inc Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

PDS Planning Inc reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,271 shares of the transportation company’s stock after selling 79 shares during the quarter. PDS Planning Inc’s holdings in Old Dominion Freight Line were worth $224,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Avanza Fonder AB acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $3,741,000. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $128,221,000. Toronto Dominion Bank increased its holdings in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC lifted its holdings in Old Dominion Freight Line by 10.4% in 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. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.2 %

Shares of Old Dominion Freight Line stock opened at $162.44 on Thursday. The firm has a market cap of $34.53 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52-week low of $159.11 and a 52-week high of $233.26. The company’s 50-day simple moving average is $185.00 and its 200-day simple moving average is $194.72. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. As a group, equities 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ODFL shares. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $202.65.

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.