Proficio Capital Partners LLC Purchases New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Proficio Capital Partners LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 283,349 shares of the transportation company’s stock, valued at approximately $49,983,000. Proficio Capital Partners LLC owned approximately 0.13% of Old Dominion Freight Line as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allworth Financial LP grew its stake in Old Dominion Freight Line by 18.8% during the third quarter. Allworth Financial LP now owns 1,427 shares of the transportation company’s stock worth $283,000 after buying an additional 226 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $514,000. abrdn plc lifted its holdings in shares of Old Dominion Freight Line by 15.8% in the third quarter. abrdn plc now owns 61,078 shares of the transportation company’s stock worth $12,104,000 after acquiring an additional 8,329 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Old Dominion Freight Line by 16.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,706 shares of the transportation company’s stock valued at $1,133,000 after buying an additional 806 shares during the last quarter. Finally, Financial Advocates Investment Management raised its holdings in Old Dominion Freight Line by 5.8% in the 3rd quarter. Financial Advocates Investment Management now owns 2,396 shares of the transportation company’s stock valued at $476,000 after buying an additional 132 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $174.77 on Friday. The company has a fifty day simple moving average of $187.66 and a 200 day simple moving average of $197.33. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $37.31 billion, a P/E ratio of 31.89, a PEG ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results 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%. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.64%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their price objective for the company from $193.00 to $200.00 in a report on Monday. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $203.72.

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.