Marshall Financial Group LLC Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Marshall Financial Group LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,169 shares of the transportation company’s stock after buying an additional 516 shares during the period. Marshall Financial Group LLC’s holdings in Old Dominion Freight Line were worth $1,682,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ODFL. Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock valued at $870,311,000 after acquiring an additional 96,410 shares during the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $494,916,000. Capital World Investors grew its stake in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after buying an additional 27,367 shares during the period. Northern Trust Corp increased its holdings in shares of Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock worth $349,952,000 after buying an additional 261,305 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock valued at $272,969,000 after acquiring an additional 185,500 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ODFL shares. Stifel Nicolaus cut their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Wells Fargo & Company set a $150.00 price target on shares of Old Dominion Freight Line and gave the company an “underweight” rating in a research report on Thursday, April 24th. Finally, Bank of America upped their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $176.50.

Old Dominion Freight Line Trading Up 0.2%

ODFL opened at $162.41 on Friday. The business has a fifty day moving average price of $159.30 and a 200 day moving average price of $176.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The stock has a market capitalization of $34.32 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.89 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

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.