Principal Financial Group Inc. Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Principal Financial Group Inc. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 457,075 shares of the transportation company's stock after buying an additional 35,935 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of Old Dominion Freight Line worth $80,628,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Old Dominion Freight Line by 72.2% in the third quarter. Blue Trust Inc. now owns 1,746 shares of the transportation company's stock worth $347,000 after buying an additional 732 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after purchasing an additional 1,017 shares in the last quarter. Segment Wealth Management LLC grew its stake in shares of Old Dominion Freight Line by 0.8% during the 3rd quarter. Segment Wealth Management LLC now owns 9,754 shares of the transportation company's stock worth $1,938,000 after purchasing an additional 76 shares during the period. Private Advisor Group LLC grew its stake in shares of Old Dominion Freight Line by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 9,638 shares of the transportation company's stock worth $1,914,000 after purchasing an additional 339 shares during the period. Finally, Hartford Investment Management Co. increased its holdings in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. Hartford Investment Management Co. now owns 11,856 shares of the transportation company's stock valued at $2,355,000 after purchasing an additional 436 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of analyst reports. Stephens reiterated an "overweight" rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Jefferies Financial Group lifted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a research note on Friday, January 10th. Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Robert W. Baird reduced their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup lifted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $203.33.

Old Dominion Freight Line Stock Down 3.8 %

NASDAQ:ODFL traded down $7.86 during mid-day trading on Thursday, hitting $197.25. The stock had a trading volume of 1,366,443 shares, compared to its average volume of 1,515,783. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock has a 50-day simple moving average of $189.48 and a two-hundred day simple moving average of $197.91. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $42.11 billion, a PE ratio of 35.99, a PEG ratio of 3.07 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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%. On average, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

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.