Old Dominion Freight Line, Inc. $ODFL Position Increased by Peterson Wealth Services

Peterson Wealth Services raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,405 shares of the transportation company’s stock after buying an additional 407 shares during the period. Peterson Wealth Services’ holdings in Old Dominion Freight Line were worth $2,500,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after purchasing an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Old Dominion Freight Line by 9.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock worth $2,911,000 after buying an additional 1,529 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Old Dominion Freight Line by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock worth $1,507,000 after acquiring an additional 443 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock valued at $395,000 after acquiring an additional 537 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its position in shares of Old Dominion Freight Line by 6.0% in the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock valued at $17,839,000 after acquiring an additional 6,133 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.2%

Old Dominion Freight Line stock opened at $136.12 on Friday. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26. The company’s fifty day moving average price is $144.43 and its two-hundred day moving average price is $154.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $28.61 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 3.21 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company posted $1.48 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. Stephens dropped their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. The Goldman Sachs Group decreased their price objective on Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Raymond James Financial set a $160.00 target price on Old Dominion Freight Line and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, Barclays reduced their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $161.90.

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.