Wambolt & Associates LLC Decreases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wambolt & Associates LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,293 shares of the transportation company’s stock after selling 2,490 shares during the quarter. Wambolt & Associates LLC’s holdings in Old Dominion Freight Line were worth $2,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $41,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at about $45,000. Brown Brothers Harriman & Co. raised its holdings 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 valued at $53,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc lifted its position in 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 acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ODFL shares. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. 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 report on Thursday, February 6th. Citigroup lowered their price objective on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group raised 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 report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $170.05 on Tuesday. The stock has a market cap of $36.14 billion, a price-to-earnings ratio of 31.03, 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, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26. The stock’s 50 day moving average price is $184.20 and its 200 day moving average price is $194.17.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 return on equity of 28.02% and a net margin of 20.40%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.