Vest Financial LLC Acquires 38,253 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vest Financial LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 177,848 shares of the transportation company's stock after buying an additional 38,253 shares during the period. Vest Financial LLC owned 0.08% of Old Dominion Freight Line worth $31,372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at $45,000. Synergy Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. Brown Brothers Harriman & Co. lifted its position in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after buying an additional 215 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $64,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter valued at $67,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 1.3 %

NASDAQ:ODFL traded down $2.75 on Wednesday, reaching $203.02. 1,444,747 shares of the stock traded hands, compared to its average volume of 1,533,645. The firm has a market capitalization of $43.34 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. The company's 50 day moving average is $189.21 and its 200-day moving average is $197.78. 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 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data 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 net margin of 20.40% and a return on equity of 28.02%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.55%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research analyst reports. Susquehanna restated a "neutral" rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Robert W. Baird lowered their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Stephens reaffirmed an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus target price of $203.33.

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.