Ballentine Partners LLC Purchases 862 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ballentine Partners LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 111.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,634 shares of the transportation company’s stock after purchasing an additional 862 shares during the quarter. Ballentine Partners LLC’s holdings in Old Dominion Freight Line were worth $358,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ODFL. LPL Financial LLC increased its holdings in shares of Old Dominion Freight Line by 11.8% during the third quarter. LPL Financial LLC now owns 43,585 shares of the transportation company’s stock valued at $17,832,000 after acquiring an additional 4,585 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Old Dominion Freight Line by 14.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 30 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Old Dominion Freight Line by 48.3% during the third quarter. Parkside Financial Bank & Trust now owns 258 shares of the transportation company’s stock valued at $106,000 after acquiring an additional 84 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Old Dominion Freight Line by 10.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 19,167 shares of the transportation company’s stock valued at $7,842,000 after acquiring an additional 1,741 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Old Dominion Freight Line by 4.6% during the third quarter. Meeder Advisory Services Inc. now owns 1,321 shares of the transportation company’s stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ODFL shares. BMO Capital Markets started coverage on shares of Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target on the stock. TD Cowen cut their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Susquehanna cut their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, 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 report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $201.18.

Old Dominion Freight Line Stock Down 0.7 %

Shares of ODFL opened at $174.85 on Wednesday. Old Dominion Freight Line, Inc. has a 52-week low of $163.30 and a 52-week high of $227.80. The company has a market capitalization of $37.99 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. The stock has a fifty day simple moving average of $181.20 and a two-hundred day simple moving average of $200.46. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Old Dominion Freight Line Company 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.