Principal Securities Inc. Grows Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Principal Securities Inc. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 33.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 593 shares of the transportation company’s stock after purchasing an additional 147 shares during the period. Principal Securities Inc.’s holdings in Old Dominion Freight Line were worth $105,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ODFL. Avanza Fonder AB purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $3,741,000. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $128,221,000. Toronto Dominion Bank increased its holdings in Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in Old Dominion Freight Line in the 4th quarter worth $600,000. Finally, Reliant Investment Management LLC boosted its holdings in shares of Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after purchasing an additional 2,060 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Morgan Stanley lifted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays cut their target price on shares of 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. Finally, Susquehanna reaffirmed a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $203.72.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $179.88 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $38.40 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company’s 50-day moving average is $188.24 and its 200 day moving average is $197.64.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

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.