Pittenger & Anderson Inc. Has $1.63 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Pittenger & Anderson Inc. raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3,700.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,360 shares of the transportation company’s stock after acquiring an additional 8,140 shares during the period. Pittenger & Anderson Inc.’s holdings in Old Dominion Freight Line were worth $1,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Value Partners Investments Inc. boosted its position in shares of Old Dominion Freight Line by 38.7% during the fourth quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock worth $3,157,000 after buying an additional 5,610 shares during the period. Baillie Gifford & Co. acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $13,322,000. Waterfront Wealth Inc. bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $1,430,000. AustralianSuper Pty Ltd boosted its position in Old Dominion Freight Line by 955.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after purchasing an additional 67,898 shares during the last quarter. Finally, Procyon Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $1,726,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent analyst reports. Robert W. Baird set a $229.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. UBS Group raised their price target on shares of Old Dominion Freight Line from $216.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Stifel Nicolaus increased their price target on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Finally, Citigroup raised Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 price objective for the company in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $220.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $227.63 on Monday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 4.16 and a beta of 1.18. The firm has a 50 day simple moving average of $218.73 and a 200 day simple moving average of $199.90.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results 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. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.5 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s 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 of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is owned by insiders.

About Old Dominion Freight Line

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.