Peterson Wealth Services Boosts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Peterson Wealth Services increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,464 shares of the transportation company’s stock after purchasing an additional 130 shares during the period. Peterson Wealth Services’ holdings in Old Dominion Freight Line were worth $2,551,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ODFL. Wellington Management Group LLP boosted its position in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the period. International Assets Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 19,764.0% during the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after purchasing an additional 681,858 shares during the period. Franklin Resources Inc. boosted its position in shares of Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares during the period. State Street Corp boosted its position in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares during the period. Finally, Geode Capital Management LLC boosted its position in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after buying an additional 275,236 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $201.78 on Tuesday. The company’s fifty day moving average price is $189.63 and its 200 day moving average price is $197.72. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $43.08 billion, a P/E ratio of 36.82, a P/E/G ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data 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 net margin of 20.40% and a return on equity of 28.02%. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ODFL shares. Jefferies Financial Group raised their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target 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. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus raised their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Bank of America decreased their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $203.33.

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.