Lake Street Private Wealth LLC Buys 1,360 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Lake Street Private Wealth LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 92.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,832 shares of the transportation company’s stock after purchasing an additional 1,360 shares during the period. Lake Street Private Wealth LLC’s holdings in Old Dominion Freight Line were worth $621,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ODFL. Fortitude Family Office LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Trust Co. of Vermont bought a new position in Old Dominion Freight Line in the 4th quarter worth $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $29,000. Headinvest LLC purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $34,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 0.2 %

NASDAQ:ODFL opened at $181.87 on Thursday. The company has a market cap of $39.52 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.37 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $177.46 and a two-hundred day simple moving average of $199.82. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ODFL shares. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price for the company in a research note on Wednesday, May 8th. Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Wells Fargo & Company began coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $201.18.

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.