Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 67.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,540 shares of the transportation company’s stock after selling 7,194 shares during the period. Vestcor Inc’s holdings in Old Dominion Freight Line were worth $624,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $35,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Brown Brothers Harriman & Co. raised its stake 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 buying an additional 215 shares during the period. Finally, Versant Capital Management Inc raised its stake 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 buying an additional 110 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

ODFL opened at $162.50 on Monday. The stock’s 50-day moving average price is $186.05 and its 200 day moving average price is $195.35. Old Dominion Freight Line, Inc. has a 12-month low of $159.35 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced 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 of this dividend 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 is presently 18.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Jefferies Financial Group increased their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group increased their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Citigroup reduced their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Barclays reduced their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $202.65.

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.