Prudential Financial Inc. Sells 14,675 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prudential Financial Inc. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,938 shares of the transportation company's stock after selling 14,675 shares during the quarter. Prudential Financial Inc.'s holdings in Old Dominion Freight Line were worth $16,923,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ODFL. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $3,741,000. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. Toronto Dominion Bank increased its holdings 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 during the period. Blueshift Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $630,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Bank of America cut their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and raised their target price for the company from $193.00 to $200.00 in a report on Monday, February 24th. Barclays cut their price target on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target of $200.20.

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Old Dominion Freight Line Trading Down 0.2 %

ODFL traded down $0.28 during trading on Monday, reaching $164.57. 592,652 shares of the company's stock were exchanged, compared to its average volume of 1,622,036. 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, Inc. has a one year low of $157.67 and a one year high of $233.26. The firm has a fifty day moving average price of $182.63 and a two-hundred day moving average price of $193.59. The stock has a market capitalization of $34.98 billion, a PE ratio of 30.09, 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 quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders 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 dividend yield of 0.68%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.98%.

About Old Dominion Freight Line

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.