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

Zacks Investment Management lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 58.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,724 shares of the transportation company's stock after selling 5,182 shares during the quarter. Zacks Investment Management's holdings in Old Dominion Freight Line were worth $657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ODFL. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at about $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $41,000. Murphy & Mullick Capital Management Corp bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $51,000. 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 worth $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 7.3 %

Shares of NASDAQ:ODFL traded down $11.54 during mid-day trading on Friday, reaching $147.36. 2,108,155 shares of the stock were exchanged, compared to its average volume of 1,676,540. The stock's 50 day simple moving average is $166.62 and its 200-day simple moving average is $187.97. Old Dominion Freight Line, Inc. has a one year low of $145.79 and a one year high of $233.26. 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 company has a market cap of $31.32 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This is an increase 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 0.76%. Old Dominion Freight Line's dividend payout ratio is presently 20.44%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Evercore ISI cut their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 target price for the company. Finally, Susquehanna decreased their price objective on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $182.95.

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.