abrdn plc Sells 5,345 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

abrdn plc trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,733 shares of the transportation company's stock after selling 5,345 shares during the period. abrdn plc's holdings in Old Dominion Freight Line were worth $9,912,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Czech National Bank raised its holdings in Old Dominion Freight Line by 13.1% during the 3rd quarter. Czech National Bank now owns 38,416 shares of the transportation company's stock worth $7,631,000 after buying an additional 4,463 shares during the period. CWM LLC raised its holdings in Old Dominion Freight Line by 9.4% during the 3rd quarter. CWM LLC now owns 10,664 shares of the transportation company's stock worth $2,118,000 after buying an additional 914 shares during the period. Wedmont Private Capital raised its holdings in Old Dominion Freight Line by 4.4% during the 3rd quarter. Wedmont Private Capital now owns 3,668 shares of the transportation company's stock worth $692,000 after buying an additional 155 shares during the period. Quotient Wealth Partners LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $201,000. Finally, Tobam raised its holdings in Old Dominion Freight Line by 42.9% during the 3rd quarter. Tobam now owns 870 shares of the transportation company's stock worth $173,000 after buying an additional 261 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ODFL shares. BMO Capital Markets decreased their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. Stephens reissued an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. The Goldman Sachs Group raised their target price on shares of 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. Susquehanna reissued a "neutral" rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, Barclays decreased their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $203.33.

Old Dominion Freight Line Price Performance

ODFL stock traded up $3.99 during midday trading on Tuesday, reaching $205.77. The company had a trading volume of 1,956,922 shares, compared to its average volume of 1,536,938. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. 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 stock has a 50 day moving average price of $189.37 and a 200-day moving average price of $197.74. The company has a market capitalization of $43.93 billion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 expect that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, March 5th. This is a boost 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 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.