Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Cut by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,235 shares of the transportation company's stock after selling 4,750 shares during the quarter. Corient Private Wealth LLC owned about 0.09% of Old Dominion Freight Line worth $32,145,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ODFL. State Street Corp grew its position in Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock valued at $1,516,324,000 after acquiring an additional 279,946 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company's stock valued at $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP grew its holdings in 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 valued at $285,094,000 after purchasing an additional 750,073 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company's stock worth $264,157,000 after buying an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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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Old Dominion Freight Line Stock Performance

Shares of ODFL traded up $4.09 during midday trading on Friday, hitting $165.22. 3,629,672 shares of the stock traded hands, compared to its average volume of 1,565,031. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 1-year low of $157.90 and a 1-year high of $233.26. The business's 50 day moving average price is $184.63 and its two-hundred day moving average price is $194.49. The firm has a market capitalization of $35.12 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results 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 net margin of 20.40% and a return on equity of 28.02%. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.98%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Truist Financial initiated coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a "buy" rating and a $220.00 price objective for the company. StockNews.com raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and lifted their price target for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Finally, Citigroup reduced their price objective on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $202.65.

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.