Harvest Investment Services LLC Makes New $228,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Harvest Investment Services LLC acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,290 shares of the transportation company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Avanza Fonder AB acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $3,741,000. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $128,221,000. Blueshift Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $630,000. Board of the Pension Protection Fund bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $600,000. Finally, Reliant Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after acquiring an additional 2,060 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $153.23 on Thursday. Old Dominion Freight Line, Inc. has a 12 month low of $145.79 and a 12 month high of $233.26. The stock has a market capitalization of $32.57 billion, a P/E ratio of 27.96, a PEG ratio of 2.89 and a beta of 1.25. 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’s 50 day moving average is $167.57 and its 200 day moving average is $188.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 20.44%.

Analyst Ratings Changes

A number of research firms have issued reports on ODFL. Bank of America cut their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. StockNews.com lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Jefferies Financial Group cut their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays lowered their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $195.15.

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.