Ieq Capital LLC Sells 10,950 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ieq Capital LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 84.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,943 shares of the transportation company's stock after selling 10,950 shares during the quarter. Ieq Capital LLC's holdings in Old Dominion Freight Line were worth $343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. raised its position in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after acquiring an additional 215 shares during the period. Versant Capital Management Inc boosted its stake in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after acquiring an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ODFL shares. Morgan Stanley increased their target price on shares of 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. Stifel Nicolaus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and boosted their target price for the company from $193.00 to $200.00 in a report on Monday, February 24th. Susquehanna restated a "neutral" rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Citigroup lifted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group increased their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $203.72.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded down $4.43 on Monday, hitting $172.07. 2,072,115 shares of the company traded hands, compared to its average volume of 1,516,402. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month 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. The company has a market cap of $36.57 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.89 and a beta of 1.05. The firm's 50-day simple moving average is $187.56 and its 200 day simple moving average is $197.28.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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 fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. Old Dominion Freight Line's dividend payout ratio (DPR) 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.