PFG Advisors Has $1.24 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

PFG Advisors lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 31.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,502 shares of the transportation company's stock after purchasing an additional 1,799 shares during the quarter. PFG Advisors' holdings in Old Dominion Freight Line were worth $1,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ODFL. Crestwood Advisors Group LLC raised its position in Old Dominion Freight Line by 18.5% in the 1st quarter. Crestwood Advisors Group LLC now owns 2,149 shares of the transportation company's stock valued at $356,000 after buying an additional 336 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in Old Dominion Freight Line by 23.6% in the 1st quarter. OneAscent Wealth Management LLC now owns 1,494 shares of the transportation company's stock valued at $247,000 after buying an additional 285 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Old Dominion Freight Line by 9.9% in the 1st quarter. Allianz Asset Management GmbH now owns 20,402 shares of the transportation company's stock valued at $3,376,000 after acquiring an additional 1,833 shares in the last quarter. Peterson Wealth Services increased its position in shares of Old Dominion Freight Line by 3.7% during the 1st quarter. Peterson Wealth Services now owns 14,998 shares of the transportation company's stock worth $2,481,000 after purchasing an additional 534 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in Old Dominion Freight Line by 118.7% during the first quarter. Lindbrook Capital LLC now owns 1,809 shares of the transportation company's stock worth $299,000 after acquiring an additional 982 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ODFL shares. Bank of America raised their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird assumed coverage on shares of Old Dominion Freight Line in a research report on Tuesday, July 1st. They set a "neutral" rating and a $164.00 price objective for the company. UBS Group cut their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays dropped their price target on 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. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $174.85.

Old Dominion Freight Line Trading Down 0.4%

Old Dominion Freight Line stock traded down $0.70 during mid-day trading on Friday, hitting $167.09. 1,747,264 shares of the stock were exchanged, compared to its average volume of 1,615,868. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 3.37 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The firm's fifty day simple moving average is $163.55 and its two-hundred day simple moving average is $169.60.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm earned $1.34 earnings per share. Old Dominion Freight Line's quarterly revenue was down 5.8% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is 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.