Corient Private Wealth LLC Reduces Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Corient Private Wealth LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,235 shares of the transportation company’s stock after selling 4,750 shares during the quarter. Corient Private Wealth LLC’s holdings in Old Dominion Freight Line were worth $32,145,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line during the 4th quarter valued at $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $41,000. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. grew its stake in 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 worth $53,000 after purchasing an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group upped their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Trading Up 2.2 %

Shares of NASDAQ:ODFL opened at $166.12 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1-year low of $159.11 and a 1-year high of $233.26. The company has a 50 day moving average price of $185.72 and a 200 day moving average price of $195.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. 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.