Bridges Investment Management Inc. Cuts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bridges Investment Management Inc. decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 688,153 shares of the transportation company's stock after selling 6,467 shares during the quarter. Old Dominion Freight Line comprises approximately 1.7% of Bridges Investment Management Inc.'s portfolio, making the stock its 17th biggest position. Bridges Investment Management Inc. owned 0.32% of Old Dominion Freight Line worth $121,390,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. SevenBridge Financial Group LLC lifted its stake in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after purchasing an additional 50 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock valued at $2,163,000 after buying an additional 55 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. increased its stake in shares of Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after acquiring an additional 55 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after acquiring an additional 62 shares during the period. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Stephens reissued an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a research note on Friday, January 10th. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $200.67.

Old Dominion Freight Line Stock Performance

ODFL stock traded up $1.52 during midday trading on Wednesday, reaching $176.52. 2,214,290 shares of the company's stock traded hands, compared to its average volume of 1,535,093. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The stock has a market cap of $37.52 billion, a P/E ratio of 32.21, a PEG ratio of 2.89 and a beta of 1.05. The stock's 50-day moving average is $187.27 and its 200 day moving average is $196.93.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 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, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is 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.