Victory Capital Management Inc. Sells 51,704 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Victory Capital Management Inc. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,146 shares of the transportation company's stock after selling 51,704 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Old Dominion Freight Line worth $30,896,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Brown Brothers Harriman & Co. increased its holdings in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Barclays reduced their target price on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a report on Thursday. They issued a "buy" rating and a $220.00 price target on the stock. Morgan Stanley boosted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and upped their price objective for the company from $193.00 to $200.00 in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $202.65.

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Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $1.56 on Thursday, reaching $162.98. The company had a trading volume of 2,016,172 shares, compared to its average volume of 1,558,423. The stock has a market capitalization of $34.64 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. 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 business's 50-day moving average is $186.67 and its 200 day moving average is $195.81. Old Dominion Freight Line, Inc. has a one year low of $159.45 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is currently 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.