Aviva PLC Reduces Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Aviva PLC cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 45.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,121 shares of the transportation company's stock after selling 98,505 shares during the period. Aviva PLC owned about 0.06% of Old Dominion Freight Line worth $21,013,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the 4th quarter valued at approximately $51,000. Versant Capital Management Inc raised its holdings in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 2.9 %

NASDAQ ODFL traded down $4.52 during trading hours on Friday, hitting $152.23. The company's stock had a trading volume of 2,640,834 shares, compared to its average volume of 1,676,590. Old Dominion Freight Line, Inc. has a twelve month low of $145.79 and a twelve month high of $233.26. The firm has a market capitalization of $32.36 billion, a P/E ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $175.40 and a 200 day moving average of $190.44.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results 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 return on equity of 28.02% and a net margin of 20.40%. Equities research analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. 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. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. Old Dominion Freight Line's payout ratio is currently 18.98%.

Analyst Ratings Changes

ODFL has been the topic of a number of analyst reports. Truist Financial began coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 price target on the stock. UBS Group dropped their price objective on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Susquehanna reduced their price objective on Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Finally, Jefferies Financial Group lowered their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $195.75.

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.