Old Dominion Freight Line, Inc. $ODFL Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 55.7% during the second quarter, HoldingsChannel reports. The firm owned 64,485 shares of the transportation company’s stock after selling 80,934 shares during the quarter. William Blair Investment Management LLC’s holdings in Old Dominion Freight Line were worth $10,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its stake in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the 1st quarter valued at approximately $39,000. Zions Bancorporation National Association UT acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $39,000. Olde Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $43,000. Finally, WPG Advisers LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $51,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.9%

ODFL stock opened at $140.71 on Tuesday. The firm has a market cap of $29.57 billion, a PE ratio of 27.48, a P/E/G ratio of 3.26 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm’s fifty day moving average is $145.38 and its 200 day moving average is $154.55. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ODFL shares. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. UBS Group increased their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Finally, Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.86.

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.