Proficio Capital Partners LLC Increases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Proficio Capital Partners LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 101.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,544 shares of the transportation company’s stock after acquiring an additional 779 shares during the quarter. Proficio Capital Partners LLC’s holdings in Old Dominion Freight Line were worth $339,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ODFL. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after purchasing an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after acquiring an additional 2,888,205 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Old Dominion Freight Line by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after acquiring an additional 12,016 shares during the period. WCM Investment Management LLC boosted its holdings in Old Dominion Freight Line by 95.9% during the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock valued at $435,593,000 after acquiring an additional 972,531 shares during the period. Finally, Norges Bank bought a new position in Old Dominion Freight Line in the 4th quarter valued at $495,387,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $0.09 during mid-day trading on Wednesday, reaching $178.32. 148,525 shares of the company traded hands, compared to its average volume of 1,579,079. The firm’s fifty day moving average is $177.05 and its two-hundred day moving average is $199.22. The company has a market capitalization of $38.75 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent analyst reports. TD Cowen lowered 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. Bank of America dropped their target price on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a research note on Thursday, June 6th. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday. Evercore ISI reissued an “in-line” rating and issued a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Finally, BMO Capital Markets began coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 price objective on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $200.55.

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.