Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 45.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,830 shares of the transportation company's stock after selling 4,787 shares during the period. Landscape Capital Management L.L.C.'s holdings in Old Dominion Freight Line were worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its stake in Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock valued at $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC grew its holdings in Old Dominion Freight Line by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock valued at $870,311,000 after purchasing an additional 96,410 shares during the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $494,916,000. Wellington Management Group LLP raised its stake in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after buying an additional 750,073 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after buying an additional 46,570 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

ODFL has been the subject of several recent research reports. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the company from $186.00 to $183.00 in a report on Tuesday. Truist Financial initiated coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a "buy" rating and a $220.00 price objective for the company. UBS Group reduced their target price 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. Evercore ISI raised their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $195.75.

Old Dominion Freight Line Trading Down 2.9 %

Shares of ODFL traded down $4.52 during trading hours on Friday, hitting $152.23. The stock had a trading volume of 2,640,834 shares, compared to its average volume of 1,676,336. The company's fifty day simple moving average is $175.40 and its 200 day simple moving average is $190.47. Old Dominion Freight Line, Inc. has a 12-month low of $145.79 and a 12-month high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $32.36 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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 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 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is 18.98%.

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.