Russell Investments Group Ltd. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,176 shares of the transportation company's stock after selling 74,112 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Old Dominion Freight Line worth $47,497,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $41,000. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line during the 4th quarter worth $51,000. Versant Capital Management Inc increased its holdings in 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 worth $62,000 after purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $69,000. 77.82% of the stock is currently owned by institutional investors.
Old Dominion Freight Line Stock Down 2.9 %
NASDAQ:ODFL traded down $4.52 during trading hours on Friday, hitting $152.23. 2,640,834 shares of the company traded hands, compared to its average volume of 1,676,336. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $32.36 billion, a PE ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25. The firm's 50-day simple moving average is $175.40 and its 200-day simple moving average is $190.47. Old Dominion Freight Line, Inc. has a one year low of $145.79 and a one year high of $233.26.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results 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 net margin of 20.40% and a return on equity of 28.02%. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.
Old Dominion Freight Line Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.74%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is currently 18.98%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on ODFL shares. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $186.00 to $183.00 in a research note on Tuesday. Susquehanna dropped their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Truist Financial began coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They set a "buy" rating and a $220.00 target price for the company. Raymond James cut their price target on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Evercore ISI lifted their price objective 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. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $195.75.
Check Out Our Latest Analysis on Old Dominion Freight Line
About Old Dominion Freight Line
(
Free Report)
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.
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