Jupiter Asset Management Ltd. Sells 22,551 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Jupiter Asset Management Ltd. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,981 shares of the transportation company's stock after selling 22,551 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.06% of Old Dominion Freight Line worth $22,929,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $3,741,000. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $128,221,000. Toronto Dominion Bank boosted its position in shares of Old Dominion Freight Line by 77.7% during the third 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 position in Old Dominion Freight Line during the fourth quarter worth about $600,000. Finally, Reliant Investment Management LLC grew its position in shares of Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after purchasing an additional 2,060 shares during the period. 77.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ODFL shares. Barclays cut their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday. The Goldman Sachs Group increased their price target 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. Stephens restated an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Susquehanna reiterated 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, Bank of America dropped their price objective on 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $202.65.

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Old Dominion Freight Line Price Performance

NASDAQ ODFL traded down $1.56 on Thursday, hitting $162.98. 2,044,266 shares of the company's stock were exchanged, compared to its average volume of 1,561,336. The stock has a 50-day moving average of $186.67 and a 200-day moving average of $195.81. The stock has a market cap of $34.64 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52 week low of $159.45 and a 52 week high of $233.26. 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 announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared 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 is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. 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.