Pictet Asset Management Holding SA Purchases 11,823 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pictet Asset Management Holding SA grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,502 shares of the transportation company's stock after buying an additional 11,823 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Old Dominion Freight Line worth $20,727,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $51,000. Versant Capital Management Inc raised its position in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after buying an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $69,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 2.4 %

Shares of ODFL stock traded down $3.69 during mid-day trading on Friday, hitting $152.06. The company's stock had a trading volume of 3,326,316 shares, compared to its average volume of 1,646,353. The company has a market cap of $32.32 billion, a PE ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company's fifty day simple moving average is $179.81 and its 200-day simple moving average is $192.51. Old Dominion Freight Line, Inc. has a 52 week low of $147.06 and a 52 week high of $233.26.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ODFL shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 price objective for the company. Barclays decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating on the stock in a research note on Wednesday. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Finally, Truist Financial initiated coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a "buy" rating and a $220.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $199.70.

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.