Vanguard Group Inc. Reduces Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vanguard Group Inc. lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,250,308 shares of the transportation company’s stock after selling 67,905 shares during the period. Vanguard Group Inc. owned 10.42% of Old Dominion Freight Line worth $3,924,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the period. Raymond James Trust N.A. raised its position in shares of Old Dominion Freight Line by 35.6% during the 3rd quarter. Raymond James Trust N.A. now owns 4,087 shares of the transportation company’s stock valued at $812,000 after buying an additional 1,072 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $241,000. Cerity Partners LLC lifted its holdings in Old Dominion Freight Line by 64.1% in the third quarter. Cerity Partners LLC now owns 32,110 shares of the transportation company’s stock valued at $6,378,000 after acquiring an additional 12,537 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in Old Dominion Freight Line by 3.1% in the third quarter. Centaurus Financial Inc. now owns 3,782 shares of the transportation company’s stock worth $751,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $170.05 on Tuesday. The company has a market cap of $36.14 billion, a P/E ratio of 31.03, a PEG ratio of 2.89 and a beta of 1.10. The firm has a fifty day moving average price of $184.20 and a 200 day moving average price of $194.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26.

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 (EPS) 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%. Sell-side 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 business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Analyst Ratings Changes

ODFL has been the topic of several research analyst reports. Susquehanna restated a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Jefferies Financial Group upped their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $202.65.

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.