Clearbridge Investments LLC Trims Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Clearbridge Investments LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 889,196 shares of the transportation company’s stock after selling 167,295 shares during the quarter. Clearbridge Investments LLC owned 0.42% of Old Dominion Freight Line worth $156,854,000 at the end of the most recent quarter.

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

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $164.85 on Monday. The firm has a market capitalization of $35.04 billion, a PE ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. 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 firm has a 50-day moving average price of $182.63 and a 200 day moving average price of $193.59. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, sell-side analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Evercore ISI increased their target price on 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. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $200.00 in a report on Monday, February 24th. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Morgan Stanley lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $201.40.

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.