Highview Capital Management LLC DE Invests $1.40 Million in Old Dominion Freight Line, Inc. $ODFL

Highview Capital Management LLC DE acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,631 shares of the transportation company’s stock, valued at approximately $1,401,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC increased its holdings in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Old Dominion Freight Line during the second quarter valued at $26,000. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth $28,000. Zions Bancorporation National Association UT acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth $39,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $47,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.6%

Old Dominion Freight Line stock opened at $130.66 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $128.51 and a 52 week high of $228.72. The stock has a market cap of $27.32 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.22 and a beta of 1.22. The company’s 50-day moving average price is $139.46 and its two-hundred day moving average price is $152.21. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 22.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ODFL shares. Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group lowered their price target on shares of Old Dominion Freight Line from $186.00 to $181.00 in a research report on Thursday, October 30th. Citigroup cut their price objective on shares of Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Susquehanna upped their target price on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $159.33.

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.