Gladstone Institutional Advisory LLC Reduces Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gladstone Institutional Advisory LLC trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,983 shares of the transportation company's stock after selling 2,570 shares during the quarter. Gladstone Institutional Advisory LLC's holdings in Old Dominion Freight Line were worth $1,937,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Avanza Fonder AB bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $3,741,000. Toronto Dominion Bank boosted its stake in Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Old Dominion Freight Line during the 4th quarter valued at about $600,000. Sequoia Financial Advisors LLC raised its holdings in Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after buying an additional 1,017 shares during the last quarter. Finally, Reliant Investment Management LLC raised its stake in Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after buying an additional 2,060 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stephens reiterated an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Bank of America lowered 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 research note on Thursday, January 16th. Susquehanna restated a "neutral" rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. TD Cowen decreased their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $203.33.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $0.05 on Friday, reaching $206.34. The company's stock had a trading volume of 1,274,115 shares, compared to its average volume of 1,477,987. The stock's fifty day simple moving average is $189.35 and its 200-day simple moving average is $197.73. 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 market capitalization of $44.05 billion, a price-to-earnings ratio of 37.65, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. 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 (NASDAQ:ODFL - Get Free Report) last issued 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%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal 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. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 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.