Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,013 shares of the transportation company's stock after selling 2,356 shares during the quarter. Corebridge Financial Inc.'s holdings in Old Dominion Freight Line were worth $12,350,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ODFL. Stevens Capital Management LP grew its holdings in shares of Old Dominion Freight Line by 58.9% in the fourth quarter. Stevens Capital Management LP now owns 1,954 shares of the transportation company's stock valued at $345,000 after purchasing an additional 724 shares in the last quarter. LPL Financial LLC grew its position in shares of Old Dominion Freight Line by 11.9% during the 4th quarter. LPL Financial LLC now owns 127,572 shares of the transportation company's stock worth $22,504,000 after buying an additional 13,606 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $12,030,000. AXQ Capital LP raised its stake in Old Dominion Freight Line by 114.8% in the fourth quarter. AXQ Capital LP now owns 4,268 shares of the transportation company's stock worth $753,000 after buying an additional 2,281 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Old Dominion Freight Line by 15.3% in the 4th quarter. Sei Investments Co. now owns 58,895 shares of the transportation company's stock worth $10,389,000 after acquiring an additional 7,837 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

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Old Dominion Freight Line Stock Down 3.2 %

Shares of NASDAQ ODFL traded down $5.38 during midday trading on Friday, hitting $164.85. The company's stock had a trading volume of 1,285,770 shares, compared to its average volume of 1,626,009. 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 1 year low of $157.67 and a 1 year high of $233.26. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The business's fifty day simple moving average is $182.63 and its two-hundred day simple moving average is $193.59.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. Old Dominion Freight Line's payout ratio is 18.98%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ODFL. Morgan Stanley upped their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Finally, Susquehanna reaffirmed a "neutral" rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average target price of $201.40.

About Old Dominion Freight Line

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.