Private Trust Co. NA Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Private Trust Co. NA grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,592 shares of the transportation company’s stock after purchasing an additional 67 shares during the period. Private Trust Co. NA’s holdings in Old Dominion Freight Line were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in Old Dominion Freight Line by 12.5% during the fourth quarter. QRG Capital Management Inc. now owns 7,541 shares of the transportation company’s stock valued at $1,330,000 after buying an additional 837 shares during the period. Proficio Capital Partners LLC bought a new position in Old Dominion Freight Line in the 4th quarter worth about $49,983,000. Oppenheimer & Co. Inc. raised its holdings in shares of Old Dominion Freight Line by 45.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,980 shares of the transportation company’s stock valued at $349,000 after acquiring an additional 616 shares in the last quarter. New York Life Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 11.2% during the 4th quarter. New York Life Investment Management LLC now owns 27,952 shares of the transportation company’s stock valued at $4,931,000 after acquiring an additional 2,809 shares during the last quarter. Finally, Harfst & Associates Inc. grew its holdings in shares of Old Dominion Freight Line by 14.5% during the fourth quarter. Harfst & Associates Inc. now owns 11,160 shares of the transportation company’s stock worth $1,969,000 after purchasing an additional 1,417 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $172.28 on Tuesday. 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 firm has a market cap of $36.62 billion, a P/E ratio of 31.44, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The firm has a 50-day moving average of $187.41 and a 200-day moving average of $197.11.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.65%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 18.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ODFL. Citigroup lifted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley lifted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, four 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 has an average rating of “Hold” and an average price target of $203.72.

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.