Pittenger & Anderson Inc. Sells 12,674 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pittenger & Anderson Inc. cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 63.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,279 shares of the transportation company’s stock after selling 12,674 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Old Dominion Freight Line were worth $1,284,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ODFL. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $41,000. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the third quarter worth $45,000. Brown Brothers Harriman & Co. raised its stake in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares in the last quarter. Versant Capital Management Inc lifted its position in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $64,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $206.34 on Monday. The company has a market capitalization of $44.05 billion, a price-to-earnings ratio of 37.65, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The stock has a 50 day moving average price of $189.35 and a 200 day moving average price of $197.73.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ODFL shares. Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Barclays lowered their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Finally, Evercore ISI lifted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $203.33.

Check Out Our Latest Report on Old Dominion Freight Line

Old Dominion Freight Line Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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