RiverPark Advisors LLC Buys 2,545 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

RiverPark Advisors LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 64.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,499 shares of the transportation company's stock after buying an additional 2,545 shares during the period. RiverPark Advisors LLC's holdings in Old Dominion Freight Line were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $35,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in 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 4th quarter worth approximately $51,000. Versant Capital Management Inc grew its position in 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 acquiring an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $69,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 7.7 %

NASDAQ ODFL traded down $12.16 during trading on Friday, hitting $146.74. The stock had a trading volume of 4,092,818 shares, compared to its average volume of 1,673,208. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 2.89 and a beta of 1.25. The stock has a 50 day simple moving average of $165.37 and a 200 day simple moving average of $187.61. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. Old Dominion Freight Line's payout ratio is 21.01%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a "buy" rating and a $236.00 price target for the company. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a research report on Thursday. Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday. Finally, Stephens reiterated an "overweight" rating and issued a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $182.95.

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.