Pittenger & Anderson Inc. Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pittenger & Anderson Inc. trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 63.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,279 shares of the transportation company's stock after selling 12,674 shares during the period. Pittenger & Anderson Inc.'s holdings in Old Dominion Freight Line were worth $1,284,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after acquiring an additional 750,073 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. International Assets Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock worth $136,130,000 after purchasing an additional 681,858 shares during the period. Franklin Resources Inc. boosted its stake in shares of Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock valued at $207,068,000 after purchasing an additional 437,700 shares during the last quarter. Finally, State Street Corp increased its position in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock worth $1,516,324,000 after buying an additional 279,946 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $2.90 during midday trading on Wednesday, reaching $206.39. The company had a trading volume of 771,956 shares, compared to its average volume of 1,502,395. The stock has a market cap of $44.06 billion, a P/E ratio of 37.65, a P/E/G ratio of 3.03 and a beta of 1.05. The company's 50 day moving average price is $189.48 and its 200 day moving average price is $197.86. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts' consensus estimates 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%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.54%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.98%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ODFL. TD Cowen cut their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Bank of America cut their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Susquehanna reiterated a "neutral" rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $203.33.

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.