Wealth Enhancement Advisory Services LLC Purchases 10,015 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wealth Enhancement Advisory Services LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,514 shares of the transportation company's stock after purchasing an additional 10,015 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Old Dominion Freight Line were worth $12,629,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Farmers & Merchants Investments Inc. raised its holdings in shares of Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company's stock worth $27,000 after acquiring an additional 62 shares during the period. Atwood & Palmer Inc. raised its holdings in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock worth $27,000 after acquiring an additional 148 shares during the period. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $29,000. Finally, Fortitude Family Office LLC boosted its stake in Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company's stock worth $29,000 after purchasing an additional 68 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the topic of several recent research reports. Raymond James lifted their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Morgan Stanley cut their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an "equal weight" rating on the stock in a research note on Monday, July 8th. Barclays reduced their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 12th. Baird R W upgraded shares of Old Dominion Freight Line from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 8th. Finally, Robert W. Baird boosted their price objective on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $202.78.

Old Dominion Freight Line Stock Performance

ODFL traded down $2.02 during trading hours on Wednesday, reaching $193.00. The company's stock had a trading volume of 820,003 shares, compared to its average volume of 1,633,798. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46. The company's 50-day moving average is $186.20 and its 200-day moving average is $199.09. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The firm has a market cap of $41.94 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line's dividend payout ratio is presently 18.31%.

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.