Congress Asset Management Co. Acquires 112 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Congress Asset Management Co. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,415 shares of the transportation company’s stock after buying an additional 112 shares during the quarter. Congress Asset Management Co.’s holdings in Old Dominion Freight Line were worth $426,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Old Dominion Freight Line by 72.2% during the 3rd quarter. Blue Trust Inc. now owns 1,746 shares of the transportation company’s stock valued at $347,000 after purchasing an additional 732 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Old Dominion Freight Line in the third quarter valued at about $67,000. Evernest Financial Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $1,005,000. Calton & Associates Inc. boosted its holdings in shares of Old Dominion Freight Line by 187.0% during the 3rd quarter. Calton & Associates Inc. now owns 3,300 shares of the transportation company’s stock worth $656,000 after buying an additional 2,150 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake 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 buying an additional 1,017 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $209.29 on Wednesday. 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 firm has a market capitalization of $44.68 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock’s 50-day simple moving average is $189.48 and its 200 day simple moving average is $197.86.

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 (EPS) for the quarter, beating 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%. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price objective 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. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday. TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Evercore ISI raised 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 equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $203.33.

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.