Weitz Investment Management Inc. Reduces Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Weitz Investment Management Inc. cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,900 shares of the transportation company's stock after selling 20,000 shares during the quarter. Old Dominion Freight Line comprises 1.7% of Weitz Investment Management Inc.'s investment portfolio, making the stock its 21st biggest position. Weitz Investment Management Inc. owned about 0.09% of Old Dominion Freight Line worth $33,498,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ODFL. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter worth $51,000. Versant Capital Management Inc boosted its stake in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ODFL. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Truist Financial started coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price on the stock. Susquehanna cut their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Stephens reiterated an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus price target of $199.70.

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Old Dominion Freight Line Stock Down 2.4 %

Shares of NASDAQ:ODFL traded down $3.69 during trading hours on Friday, reaching $152.06. The stock had a trading volume of 3,326,316 shares, compared to its average volume of 1,646,353. Old Dominion Freight Line, Inc. has a 1 year low of $147.06 and a 1 year high of $233.26. The firm's 50 day moving average is $179.81 and its 200-day moving average is $192.51. The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25. 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 posted its earnings results 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%. Research analysts predict 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. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.74%. Old Dominion Freight Line's payout ratio is presently 18.98%.

Old Dominion Freight Line 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.