DAVENPORT & Co LLC reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 92.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,728 shares of the transportation company's stock after selling 66,539 shares during the quarter. DAVENPORT & Co LLC's holdings in Old Dominion Freight Line were worth $1,010,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter valued at approximately $45,000. Brown Brothers Harriman & Co. lifted its stake 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 valued at $53,000 after acquiring an additional 215 shares during the last quarter. Versant Capital Management Inc grew its position 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 worth $62,000 after acquiring an additional 110 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Old Dominion Freight Line in the third quarter worth $64,000. 77.82% of the stock is owned by hedge funds and other institutional investors.
Old Dominion Freight Line Stock Performance
Shares of ODFL traded up $4.58 on Monday, reaching $201.78. 1,984,612 shares of the stock traded hands, compared to its average volume of 1,520,785. The stock's 50-day moving average price is $189.63 and its 200-day moving average price is $197.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $43.08 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.
Old Dominion Freight Line Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. 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 dividend yield of 0.56%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.
Analysts Set New Price Targets
Several research firms have recently issued reports on ODFL. JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Bank of America decreased their target price on 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. Robert W. Baird dropped their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus target price of $203.33.
Read Our Latest Report on ODFL
Old Dominion Freight Line Profile
(
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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