Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,627 shares of the transportation company’s stock after selling 474 shares during the period. Orion Portfolio Solutions LLC’s holdings in Old Dominion Freight Line were worth $3,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Norges Bank acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $494,916,000. Wellington Management Group LLP raised its holdings in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after acquiring an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line in the fourth quarter worth approximately $128,221,000. Raymond James Financial Inc. acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after purchasing an additional 573,586 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the subject of a number of analyst reports. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. Citigroup cut their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Jefferies Financial Group upped their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Bank of America cut their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $201.40.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $164.85 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $182.63 and a 200-day simple moving average of $193.59. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26. The stock has a market capitalization of $35.04 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed 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 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Old Dominion Freight Line Company 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.