Argent Trust Co increased its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 511.7% during the 4th quarter, Holdings Channel reports. The firm owned 13,788 shares of the transportation company’s stock after purchasing an additional 11,534 shares during the period. Argent Trust Co’s holdings in Old Dominion Freight Line were worth $1,703,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ODFL. Cerity Partners LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $414,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Old Dominion Freight Line by 9,888.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 4,140,856 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 96,857 shares of the transportation company’s stock valued at $11,960,000 after purchasing an additional 846 shares during the period. Parnassus Investments CA acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $18,017,000. Finally, Canal Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. Canal Capital Management LLC now owns 106,336 shares of the transportation company’s stock valued at $13,131,000 after purchasing an additional 1,126 shares during the period. 77.41% of the stock is currently owned by institutional investors.

NASDAQ:ODFL opened at $144.00 on Thursday. The company has a quick ratio of 1.92, a current ratio of 1.98 and a debt-to-equity ratio of 0.02. The stock has a market cap of $11.68 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, February 7th. The transportation company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.74 by $0.21. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, equities analysts predict that Old Dominion Freight Line will post 7.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a dividend yield of 0.47%. Old Dominion Freight Line’s payout ratio is presently 7.05%.

Several equities analysts have recently weighed in on ODFL shares. Buckingham Research dropped their price objective on shares of Old Dominion Freight Line from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Credit Suisse Group reiterated a “buy” rating and set a $147.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 15th. BidaskClub lowered shares of Old Dominion Freight Line from a “sell” rating to a “strong sell” rating in a report on Friday, October 19th. Morgan Stanley lowered shares of Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $160.00 to $146.00 in a report on Monday, October 22nd. Finally, Bank of America upgraded shares of Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 price objective on the stock in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $143.45.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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