Vanguard Group Inc. cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,250,308 shares of the transportation company's stock after selling 67,905 shares during the quarter. Vanguard Group Inc. owned approximately 10.42% of Old Dominion Freight Line worth $3,924,954,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $35,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the fourth quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $45,000. Brown Brothers Harriman & Co. increased its stake in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after buying an additional 215 shares in the last quarter. Finally, 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 valued at $62,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.
Old Dominion Freight Line Trading Down 3.2 %
Old Dominion Freight Line stock traded down $5.38 during mid-day trading on Friday, hitting $164.85. 1,285,770 shares of the company's stock were exchanged, compared to its average volume of 1,626,009. The company's 50 day simple moving average is $182.63 and its 200-day simple moving average is $193.54. 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 capitalization of $35.04 billion, a P/E ratio of 30.08, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26.
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 EPS for the quarter, topping analysts' consensus estimates 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 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. 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 0.68%. 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 dividend payout ratio is 18.98%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Stephens reissued an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Morgan Stanley increased their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective for the company. Barclays decreased their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Finally, Evercore ISI boosted 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 report on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $201.40.
Read Our Latest Stock Analysis on Old Dominion Freight Line
About Old Dominion Freight Line
(
Free Report)
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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