Prudential PLC Trims Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prudential PLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,400 shares of the transportation company's stock after selling 5,784 shares during the period. Prudential PLC's holdings in Old Dominion Freight Line were worth $3,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $51,000. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ODFL. Raymond James dropped their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective for the company. Susquehanna decreased their target price on Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Finally, Truist Financial assumed coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They set a "buy" rating and a $220.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $195.75.

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Old Dominion Freight Line Trading Down 2.9 %

ODFL stock traded down $4.52 during midday trading on Friday, reaching $152.23. 2,640,834 shares of the company traded hands, compared to its average volume of 1,676,336. The firm has a market capitalization of $32.36 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52-week low of $145.79 and a 52-week high of $233.26. The business has a 50 day moving average of $175.40 and a 200-day moving average of $190.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. As a group, sell-side analysts expect 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, March 5th. 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 18.98%.

About Old Dominion Freight Line

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.