Proficio Capital Partners LLC Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Proficio Capital Partners LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 101.8% in the 1st quarter, HoldingsChannel reports. The fund owned 1,544 shares of the transportation company’s stock after buying an additional 779 shares during the quarter. Proficio Capital Partners LLC’s holdings in Old Dominion Freight Line were worth $339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ODFL. Diversified Trust Co raised its holdings in Old Dominion Freight Line by 162.9% during the first quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after purchasing an additional 4,554 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Old Dominion Freight Line by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after acquiring an additional 81,122 shares in the last quarter. Rise Advisors LLC boosted its stake in Old Dominion Freight Line by 369.2% in the first quarter. Rise Advisors LLC now owns 183 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 144 shares in the last quarter. AMF Tjanstepension AB grew its holdings in shares of Old Dominion Freight Line by 100.0% during the first quarter. AMF Tjanstepension AB now owns 41,532 shares of the transportation company’s stock worth $9,110,000 after purchasing an additional 20,766 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Old Dominion Freight Line by 1.0% during the fourth quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock worth $7,351,000 after purchasing an additional 182 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $0.09 during midday trading on Wednesday, hitting $178.32. 148,525 shares of the stock were exchanged, compared to its average volume of 1,579,079. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $177.05 and a 200-day moving average price of $199.22. The stock has a market cap of $38.75 billion, a P/E ratio of 31.46, a PEG ratio of 2.36 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday. Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price objective on the stock. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a report on Monday, April 29th. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target on the stock in a report on Wednesday, May 8th. Finally, Raymond James reduced their price objective on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $200.55.

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.