Proficio Capital Partners LLC Invests $283,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Proficio Capital Partners LLC bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,606 shares of the transportation company's stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Old Dominion Freight Line by 9.4% during the 4th quarter. Assetmark Inc. now owns 1,600 shares of the transportation company's stock worth $282,000 after purchasing an additional 137 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after buying an additional 46,570 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Old Dominion Freight Line by 15.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,053 shares of the transportation company's stock valued at $1,244,000 after buying an additional 921 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Old Dominion Freight Line by 8.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,730 shares of the transportation company's stock valued at $482,000 after buying an additional 212 shares in the last quarter. Finally, Modera Wealth Management LLC raised its stake in shares of Old Dominion Freight Line by 7.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,878 shares of the transportation company's stock valued at $508,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ODFL shares. Stifel Nicolaus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and increased their price target for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Evercore ISI raised their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price target on the stock. Finally, Stephens reiterated an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $201.40.

Old Dominion Freight Line Trading Down 3.2 %

Shares of NASDAQ ODFL traded down $5.38 during midday trading on Friday, hitting $164.85. The stock had a trading volume of 1,285,770 shares, compared to its average volume of 1,626,009. The firm has a market cap of $35.04 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week 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 company's 50-day simple moving average is $182.63 and its 200 day simple moving average is $193.59.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is 18.98%.

Old Dominion Freight Line 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.