Zurcher Kantonalbank Zurich Cantonalbank Has $7.33 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,534 shares of the transportation company’s stock after buying an additional 3,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Old Dominion Freight Line were worth $7,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $35,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $45,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. Brown Brothers Harriman & Co. increased its position in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of 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 worth $62,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ODFL shares. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley increased their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Jefferies Financial Group increased their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Bank of America lowered their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $202.65.

Old Dominion Freight Line Stock Down 0.9 %

Old Dominion Freight Line stock opened at $162.98 on Friday. The company’s 50 day simple moving average is $186.67 and its 200 day simple moving average is $195.81. Old Dominion Freight Line, Inc. has a fifty-two week low of $159.35 and a fifty-two week high of $233.26. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.89 and a beta of 1.10. 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 (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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%. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio (DPR) 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.