HighPoint Advisor Group LLC Takes $580,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

HighPoint Advisor Group LLC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,333 shares of the transportation company’s stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Old Dominion Freight Line by 0.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,275 shares of the transportation company’s stock worth $5,022,000 after acquiring an additional 70 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth $750,000. Envestnet Asset Management Inc. raised its stake in Old Dominion Freight Line by 24.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 167,843 shares of the transportation company’s stock worth $68,671,000 after acquiring an additional 32,510 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth $243,000. Finally, CI Investments Inc. raised its stake in Old Dominion Freight Line by 67.3% during the 3rd quarter. CI Investments Inc. now owns 1,064 shares of the transportation company’s stock worth $435,000 after acquiring an additional 428 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.4 %

Shares of NASDAQ ODFL opened at $173.30 on Thursday. Old Dominion Freight Line, Inc. has a 12-month low of $158.60 and a 12-month high of $227.80. The company has a market capitalization of $37.66 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The firm’s 50-day moving average is $184.81 and its two-hundred day moving average is $200.86.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.98 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ODFL shares. Barclays cut their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. UBS Group lifted their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Raymond James lifted their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $204.97.

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.