Sheaff Brock Investment Advisors LLC Reduces Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sheaff Brock Investment Advisors LLC lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,141 shares of the transportation company's stock after selling 1,646 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Old Dominion Freight Line were worth $1,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ODFL. SevenBridge Financial Group LLC increased its holdings in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after acquiring an additional 50 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock worth $2,163,000 after purchasing an additional 55 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of 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 purchasing an additional 55 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Old Dominion Freight Line by 0.7% during the 4th 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 during the last quarter. Finally, Brighton Jones LLC lifted its stake in Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company's stock valued at $294,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 2.0 %

Shares of ODFL stock traded down $4.18 during trading hours on Wednesday, reaching $205.11. The company had a trading volume of 1,284,880 shares, compared to its average volume of 1,520,446. The company has a market capitalization of $43.79 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.05. 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, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock's fifty day simple moving average is $189.48 and its 200 day simple moving average is $197.91.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ODFL. Morgan Stanley raised their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Evercore ISI boosted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, Stephens reissued an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $203.33.

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.