Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Syon Capital LLC

Syon Capital LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,218 shares of the transportation company’s stock after selling 117 shares during the quarter. Syon Capital LLC’s holdings in Old Dominion Freight Line were worth $215,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hantz Financial Services Inc. raised its position in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. grew its position in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC increased its stake in Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after buying an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Old Dominion Freight Line by 0.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after purchasing an additional 62 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

ODFL has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating on the stock in a research report on Thursday. UBS Group reduced their price objective on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Bank of America cut their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Stifel Nicolaus decreased their price target on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $182.95.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $146.74 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business’s fifty day moving average price is $165.37 and its two-hundred day moving average price is $187.61. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

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

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.76%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.01%.

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.