Lake Street Advisors Group LLC Purchases 1,196 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Lake Street Advisors Group LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 135.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,078 shares of the transportation company’s stock after acquiring an additional 1,196 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Old Dominion Freight Line were worth $456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. raised its holdings in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC grew its stake in Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its position in shares of Old Dominion Freight Line by 138.3% during the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after purchasing an additional 83 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded up $0.77 during trading on Wednesday, hitting $194.62. 3,328,712 shares of the company were exchanged, compared to its average volume of 1,611,222. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a market capitalization of $42.29 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The business’s 50 day moving average is $179.40 and its 200-day moving average is $198.68.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.9 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. BMO Capital Markets started coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price objective for the company. Bank of America lifted their price objective on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company began coverage on shares of Old Dominion Freight Line in a report on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price on the stock. TD Cowen cut their target price on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Evercore ISI reissued an “in-line” rating and set a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $201.13.

Old Dominion Freight Line 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.