Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 885,632 shares of the transportation company's stock after selling 119,982 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.41% of Old Dominion Freight Line worth $156,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $35,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line during the third quarter worth approximately $45,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after buying an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after buying an additional 110 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded up $4.83 during trading on Monday, reaching $170.05. The company's stock had a trading volume of 1,302,648 shares, compared to its average volume of 1,568,713. The business has a 50 day moving average price of $184.41 and a 200-day moving average price of $194.29. Old Dominion Freight Line, Inc. has a 12-month low of $157.67 and a 12-month high of $233.26. The company has a market capitalization of $36.14 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued 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%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced 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 is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price for the company. Truist Financial started coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a "buy" rating and a $220.00 price target on the stock. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $202.65.

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.