Ritholtz Wealth Management Boosts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ritholtz Wealth Management increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 25.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,416 shares of the transportation company's stock after acquiring an additional 3,336 shares during the quarter. Ritholtz Wealth Management's holdings in Old Dominion Freight Line were worth $2,716,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $494,916,000. T. Rowe Price Investment Management Inc. grew its holdings in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after buying an additional 1,361,397 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $114,449,000. Thrivent Financial for Lutherans increased its stake in Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after buying an additional 573,586 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Old Dominion Freight Line by 24,499.9% during the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock worth $85,105,000 after buying an additional 512,293 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 0.1%

ODFL stock traded down $0.16 during trading on Tuesday, hitting $159.29. 165,663 shares of the company traded hands, compared to its average volume of 1,633,976. The company has a 50-day moving average of $159.76 and a 200-day moving average of $175.07. 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, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The firm has a market capitalization of $33.66 billion, a PE ratio of 29.07, a P/E/G ratio of 2.89 and a beta of 1.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued 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 firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business earned $1.34 earnings per share. The business's revenue was down 5.8% on a year-over-year basis. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on ODFL shares. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research report on Monday, June 2nd. 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 report on Thursday, April 24th. Jefferies Financial Group cut their price target on 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. Bank of America boosted their price target on shares of 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. Finally, Stephens reiterated an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $176.50.

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.