Kovitz Investment Group Partners LLC Buys Shares of 2,805 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kovitz Investment Group Partners LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,805 shares of the transportation company's stock, valued at approximately $495,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ODFL. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $494,916,000. T. Rowe Price Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 1,575.9% in the 4th 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 during the period. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line in the 4th quarter worth $128,221,000. Raymond James Financial Inc. bought a new stake in Old Dominion Freight Line during the fourth quarter valued at about $114,449,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after acquiring an additional 573,586 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a research report on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. UBS Group dropped 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 report on Tuesday, April 8th. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Barclays decreased their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $183.37.

Old Dominion Freight Line Trading Up 4.9 %

Shares of ODFL traded up $7.45 during midday trading on Friday, hitting $158.01. The stock had a trading volume of 2,628,110 shares, compared to its average volume of 1,684,895. The stock's 50 day moving average is $161.69 and its 200 day moving average is $185.82. The firm has a market cap of $33.52 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. 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 1 year low of $144.90 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, 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 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. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is presently 21.01%.

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.