Kovack Advisors Inc. Sells 88 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kovack Advisors Inc. reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,526 shares of the transportation company’s stock after selling 88 shares during the period. Kovack Advisors Inc.’s holdings in Old Dominion Freight Line were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. SevenBridge Financial Group LLC increased its holdings in Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after acquiring an additional 50 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after acquiring an additional 55 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after acquiring an additional 55 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after acquiring an additional 55 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after acquiring an additional 62 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ODFL. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $203.72.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $176.50 on Friday. The stock has a market cap of $37.68 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. 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 1 year low of $165.49 and a 1 year high of $233.26. The firm has a 50-day moving average of $187.56 and a two-hundred day moving average of $197.24.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is 18.98%.

Old Dominion Freight Line Company Profile

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.