Prudential PLC Sells 5,784 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prudential PLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 20.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,400 shares of the transportation company’s stock after selling 5,784 shares during the period. Prudential PLC’s holdings in Old Dominion Freight Line were worth $3,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ODFL. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $494,916,000. Wellington Management Group LLP raised its stake in Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $114,449,000. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after purchasing an additional 573,586 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They set a “buy” rating and a $220.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Bank of America cut their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Jefferies Financial Group raised 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. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $199.70.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $152.06 on Friday. 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 company has a 50 day moving average price of $179.81 and a 200-day moving average price of $192.51. Old Dominion Freight Line, Inc. has a fifty-two week low of $147.06 and a fifty-two week high of $233.26. The stock has a market capitalization of $32.32 billion, a PE ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its 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 return on equity of 28.02% and a net margin of 20.40%. Equities 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

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.