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

Envestnet Asset Management Inc. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,371 shares of the transportation company's stock after selling 2,731 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Old Dominion Freight Line worth $71,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $35,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter worth $51,000. Versant Capital Management Inc lifted its stake 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 valued at $62,000 after buying an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $69,000. Institutional investors own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ODFL shares. UBS Group cut their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Stifel Nicolaus cut their price target on shares of Old Dominion Freight Line from $200.00 to $188.00 and set a "buy" rating on the stock in a research note on Monday. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Finally, Truist Financial initiated coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $195.15.

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Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded down $1.35 during midday trading on Tuesday, reaching $153.76. The stock had a trading volume of 207,476 shares, compared to its average volume of 1,668,972. The stock has a market cap of $32.68 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $145.79 and a 12-month high of $233.26. The firm has a fifty day simple moving average of $174.63 and a two-hundred day simple moving average of $190.15.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. 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 yield of 0.73%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 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.