Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 305,416 shares of the transportation company's stock after selling 57,118 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Old Dominion Freight Line worth $53,875,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODFL. Hantz Financial Services Inc. grew its position in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after buying an additional 55 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after acquiring an additional 55 shares in the last quarter. Evergreen Private Wealth LLC increased its position in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after purchasing an additional 59 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in shares of Old Dominion Freight Line by 0.7% during the fourth 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. Hedge funds and other institutional investors own 77.82% of the company's stock.

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Old Dominion Freight Line Price Performance

ODFL stock traded down $1.65 during trading on Tuesday, hitting $153.46. The company had a trading volume of 207,476 shares, compared to its average volume of 1,668,972. The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $174.63 and a 200 day moving average of $190.15. Old Dominion Freight Line, Inc. has a fifty-two week low of $145.79 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates 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, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ODFL. Barclays cut their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. 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 price objective for the company. Evercore ISI increased their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group lowered their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $195.15.

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.