Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,258 shares of the transportation company’s stock after purchasing an additional 135 shares during the period. Avestar Capital LLC’s holdings in Old Dominion Freight Line were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $41,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $45,000. Brown Brothers Harriman & Co. grew its position in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Old Dominion Freight Line in the third quarter valued at $64,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $206.34 on Friday. The company has a 50-day simple moving average of $189.35 and a 200 day simple moving average of $197.82. The company has a market capitalization of $44.05 billion, a P/E ratio of 37.65, a PEG ratio of 5.30 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

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 analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Upgrades and Downgrades

ODFL has been the subject of several research analyst reports. Susquehanna reissued a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup upped their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $203.33.

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.