Principle Wealth Partners LLC Has $3.85 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Principle Wealth Partners LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 21,829 shares of the transportation company’s stock after selling 245 shares during the period. Principle Wealth Partners LLC’s holdings in Old Dominion Freight Line were worth $3,851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ODFL. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $3,741,000. Toronto Dominion Bank increased its holdings in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line during the 4th quarter valued at $600,000. Sequoia Financial Advisors LLC raised its position in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Reliant Investment Management LLC boosted its stake in Old Dominion Freight Line by 10.4% in the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after purchasing an additional 2,060 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ODFL shares. Barclays cut their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. BMO Capital Markets decreased their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, TD Cowen reduced their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Stock Up 2.3 %

Old Dominion Freight Line stock opened at $201.78 on Tuesday. The firm has a market capitalization of $43.08 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 5.30 and a beta of 1.05. The company’s 50 day simple moving average is $189.63 and its 200 day simple moving average is $197.72. 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 fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.56%. This is a boost 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 payout ratio is presently 18.98%.

About Old Dominion Freight Line

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.