Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,551 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,534 shares of the transportation company's stock after buying an additional 3,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Old Dominion Freight Line were worth $7,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SevenBridge Financial Group LLC lifted its position in shares of Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock worth $519,000 after purchasing an additional 50 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock valued at $2,163,000 after acquiring an additional 55 shares during the period. Hantz Financial Services Inc. increased its stake in Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after acquiring an additional 55 shares during the period. D.A. Davidson & CO. increased its stake in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after acquiring an additional 55 shares during the period. Finally, Evergreen Private Wealth LLC grew its stake in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

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Wall Street Analyst Weigh In

ODFL has been the topic of several analyst reports. Jefferies Financial Group upped their price objective on 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. Stephens reaffirmed an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Bank of America decreased their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Evercore ISI raised their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. Finally, Susquehanna reiterated a "neutral" rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $202.65.

Old Dominion Freight Line Stock Down 0.3 %

Shares of ODFL stock traded down $0.48 on Friday, reaching $162.50. 1,412,251 shares of the company were exchanged, compared to its average volume of 1,558,952. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.89 and a beta of 1.10. The company has a 50-day moving average of $186.05 and a 200-day moving average of $195.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $158.64 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates 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%. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line's payout ratio is presently 18.98%.

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.