Peterson Wealth Services Acquires 16,395 Shares of Old Dominion Freight Line, Inc. $ODFL

Peterson Wealth Services grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 988.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,053 shares of the transportation company’s stock after acquiring an additional 16,395 shares during the quarter. Peterson Wealth Services’ holdings in Old Dominion Freight Line were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 2.2% in the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after purchasing an additional 494,674 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Old Dominion Freight Line by 21.6% in the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after purchasing an additional 776,004 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Old Dominion Freight Line by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,314,157 shares of the transportation company’s stock valued at $519,660,000 after purchasing an additional 639,769 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $444,983,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $247.76 on Friday. The stock has a fifty day moving average price of $214.24 and a two-hundred day moving average price of $189.13. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The firm has a market capitalization of $51.53 billion, a P/E ratio of 51.83, a P/E/G ratio of 4.78 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Jefferies Financial Group upped their target price on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Tuesday. Argus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 12th. The Goldman Sachs Group set a $216.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, UBS Group upped their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $215.43.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.