Renaissance Technologies LLC Cuts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Renaissance Technologies LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,817 shares of the transportation company's stock after selling 10,565 shares during the period. Renaissance Technologies LLC owned 0.12% of Old Dominion Freight Line worth $45,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at about $35,000. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $51,000. Versant Capital Management Inc boosted its position in shares of Old Dominion Freight Line by 45.5% in the 4th 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 Old Dominion Freight Line during the 4th quarter valued at about $69,000. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODFL. Bank of America cut their price objective on shares of 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. Evercore ISI lifted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th. Jefferies Financial Group dropped their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Raymond James decreased 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 research report on Tuesday, April 8th. Finally, Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $200.00 to $188.00 and set a "buy" rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $195.15.

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Old Dominion Freight Line Stock Down 1.7 %

Shares of ODFL stock traded down $2.65 during mid-day trading on Wednesday, reaching $150.20. 513,673 shares of the company's stock traded hands, compared to its average volume of 1,669,765. The company has a market cap of $31.92 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.89 and a beta of 1.25. The company's 50-day moving average price is $173.77 and its 200-day moving average price is $189.89. 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.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. On average, equities 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 firm also recently announced 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 represents a $1.12 annualized dividend and a yield of 0.75%. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is 20.44%.

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.