Pictet Asset Management Holding SA Acquires 11,823 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pictet Asset Management Holding SA lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,502 shares of the transportation company’s stock after acquiring an additional 11,823 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Old Dominion Freight Line worth $20,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line in the 4th quarter worth $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line in the fourth quarter worth about $51,000. Versant Capital Management Inc boosted its position in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $69,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.4 %

Shares of Old Dominion Freight Line stock opened at $165.45 on Tuesday. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $182.14 and its 200 day moving average is $193.41. The company has a market cap of $35.17 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ODFL. Barclays lowered their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Morgan Stanley boosted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Evercore ISI boosted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Finally, Bank of America cut their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.20.

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.