Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,200 shares of the transportation company's stock after selling 4,100 shares during the quarter. Primecap Management Co. CA's holdings in Old Dominion Freight Line were worth $7,620,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cibc World Markets Corp raised its holdings in shares of Old Dominion Freight Line by 12.7% in the fourth quarter. Cibc World Markets Corp now owns 34,571 shares of the transportation company's stock worth $6,098,000 after buying an additional 3,886 shares during the period. Nicholas Company Inc. increased its stake in Old Dominion Freight Line by 6.1% in the fourth quarter. Nicholas Company Inc. now owns 95,565 shares of the transportation company's stock worth $16,858,000 after purchasing an additional 5,495 shares during the period. GWN Securities Inc. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $222,000. one8zero8 LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $431,000. Finally, Natixis Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 10.3% during the fourth quarter. Natixis Advisors LLC now owns 358,402 shares of the transportation company's stock valued at $63,222,000 after purchasing an additional 33,496 shares during the period. Institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

ODFL has been the topic of several recent analyst reports. Evercore ISI raised their price target on shares of 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. Stephens reaffirmed an "overweight" rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Citigroup lowered their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Bank of America reduced their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Stifel Nicolaus raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and lifted their target price for the company from $193.00 to $200.00 in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $202.65.

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Old Dominion Freight Line Stock Up 2.9 %

Shares of ODFL traded up $4.83 during midday trading on Monday, hitting $170.05. 1,302,648 shares of the company's stock traded hands, compared to its average volume of 1,568,713. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. The firm's fifty day moving average is $184.41 and its 200-day moving average is $194.29. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

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

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. Old Dominion Freight Line's dividend payout ratio 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.