Checchi Capital Advisers LLC Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Checchi Capital Advisers LLC raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,323 shares of the transportation company’s stock after buying an additional 77 shares during the period. Checchi Capital Advisers LLC’s holdings in Old Dominion Freight Line were worth $410,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC lifted its stake in Old Dominion Freight Line by 10.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,255 shares of the transportation company’s stock worth $398,000 after acquiring an additional 215 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $7,359,000. World Equity Group Inc. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $231,000. Howard Capital Management Inc. lifted its position in shares of Old Dominion Freight Line by 2.7% during the fourth quarter. Howard Capital Management Inc. now owns 5,483 shares of the transportation company’s stock worth $967,000 after purchasing an additional 145 shares in the last quarter. Finally, ST. Nicholas Private Asset Management Inc. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $5,591,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $174.77 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. 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 firm has a market cap of $37.31 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.89 and a beta of 1.05. The stock’s 50-day moving average is $187.66 and its two-hundred day moving average is $197.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Citigroup increased their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Bank of America lowered their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Susquehanna restated a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price objective for the company from $193.00 to $200.00 in a research note on Monday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $203.72.

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.