Pinebridge Investments L.P. Has $3.46 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pinebridge Investments L.P. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,592 shares of the transportation company's stock after selling 13,980 shares during the quarter. Pinebridge Investments L.P.'s holdings in Old Dominion Freight Line were worth $3,456,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after buying an additional 55 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC grew its stake in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after purchasing an additional 59 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Old Dominion Freight Line by 0.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. Barclays decreased their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday. Susquehanna decreased their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a report on Thursday. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. Finally, Stephens reissued an "overweight" rating and set a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $182.95.

Old Dominion Freight Line Stock Down 7.7 %

ODFL stock opened at $146.74 on Friday. The business has a 50-day moving average of $165.37 and a 200-day moving average of $187.65. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The stock has a market capitalization of $31.19 billion, a P/E ratio of 26.78, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, sell-side analysts anticipate 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 firm also recently declared 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. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.76%. Old Dominion Freight Line's payout ratio is 20.44%.

Old Dominion Freight Line 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.

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