Pinnacle Wealth Planning Services Inc. Lowers Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pinnacle Wealth Planning Services Inc. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,361 shares of the transportation company’s stock after selling 237 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Old Dominion Freight Line were worth $240,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ODFL. Hantz Financial Services Inc. grew its holdings in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after buying an additional 55 shares during the last quarter. D.A. Davidson & CO. raised its stake in Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after acquiring an additional 55 shares during the last quarter. Evergreen Private Wealth LLC lifted its position in Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after acquiring an additional 59 shares during the period. Lido Advisors LLC lifted its position in Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock worth $340,000 after acquiring an additional 59 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Up 1.6%

NASDAQ:ODFL opened at $164.21 on Wednesday. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week 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 stock has a fifty day simple moving average of $159.80 and a 200-day simple moving average of $181.24. The company has a market capitalization of $34.70 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.28 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial cut their price target on Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stephens restated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Stifel Nicolaus dropped their price target on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Jefferies Financial Group cut their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $182.26.

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.