Peregrine Asset Advisers Inc. Sells 1,081 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Peregrine Asset Advisers Inc. decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,997 shares of the transportation company’s stock after selling 1,081 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Old Dominion Freight Line were worth $1,763,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $41,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. boosted its position in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 45.5% during 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 bought a new stake in Old Dominion Freight Line during the third quarter worth about $64,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Evercore ISI upped their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Price Performance

ODFL opened at $180.40 on Friday. The company has a fifty day moving average price of $188.96 and a two-hundred day moving average price of $197.81. The firm has a market capitalization of $38.52 billion, a PE ratio of 32.92, a P/E/G ratio of 3.01 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

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, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 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.