Price T Rowe Associates Inc. MD Sells 2,489,509 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Price T Rowe Associates Inc. MD reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 13.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,780,935 shares of the transportation company's stock after selling 2,489,509 shares during the period. Price T Rowe Associates Inc. MD owned about 7.39% of Old Dominion Freight Line worth $2,783,758,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ODFL. Hantz Financial Services Inc. raised its stake in shares of Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. raised its stake in Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after acquiring an additional 55 shares during the period. Evergreen Private Wealth LLC lifted its holdings in 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 boosted its position in Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake 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 worth $1,668,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 1.5 %

Shares of ODFL stock opened at $152.07 on Wednesday. The business has a 50-day moving average price of $168.63 and a two-hundred day moving average price of $188.41. Old Dominion Freight Line, Inc. has a 12-month low of $145.79 and a 12-month high of $233.26. 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 firm has a market cap of $32.32 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 20.44%.

Analyst Ratings Changes

Several research firms recently commented on ODFL. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Raymond James cut their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Stephens reiterated an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Evercore ISI raised their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price target on Old Dominion Freight Line from $200.00 to $188.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $195.15.

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.

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