NBC Securities Inc. Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

NBC Securities Inc. boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 117,041.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,914 shares of the transportation company's stock after purchasing an additional 19,897 shares during the quarter. NBC Securities Inc.'s holdings in Old Dominion Freight Line were worth $3,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ODFL. Brighton Jones LLC grew its stake in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after buying an additional 79 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Old Dominion Freight Line by 18.1% in the fourth quarter. Perigon Wealth Management LLC now owns 1,938 shares of the transportation company's stock valued at $368,000 after purchasing an additional 297 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Old Dominion Freight Line by 8.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 13,388 shares of the transportation company's stock valued at $2,362,000 after purchasing an additional 1,044 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after purchasing an additional 55 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Old Dominion Freight Line by 5.2% in the fourth quarter. Caprock Group LLC now owns 9,424 shares of the transportation company's stock valued at $1,662,000 after acquiring an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. UBS Group decreased their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Barclays cut their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company set a $150.00 price target on shares of Old Dominion Freight Line and gave the stock an "underweight" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average target price of $180.42.

Old Dominion Freight Line Stock Performance

ODFL traded down $0.53 during midday trading on Thursday, reaching $160.96. The company had a trading volume of 645,912 shares, compared to its average volume of 1,643,605. The stock has a market cap of $34.01 billion, a PE ratio of 29.37, a P/E/G ratio of 2.89 and a beta of 1.31. 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 business has a 50-day moving average price of $159.04 and a two-hundred day moving average price of $178.93. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company posted $1.34 EPS. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.70%. Old Dominion Freight Line's payout ratio is currently 21.01%.

About Old Dominion Freight Line

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.