Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 21.6% during the fourth quarter, Holdings Channel reports. The firm owned 269,176 shares of the transportation company’s stock after selling 74,112 shares during the quarter. Russell Investments Group Ltd.’s holdings in Old Dominion Freight Line were worth $47,497,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors increased its position in Old Dominion Freight Line by 1.7% during the third quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock worth $1,490,000 after buying an additional 124 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Old Dominion Freight Line by 1,448.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,230 shares of the transportation company’s stock valued at $443,000 after acquiring an additional 2,086 shares during the period. Janus Henderson Group PLC raised its position in Old Dominion Freight Line by 4.2% in the 3rd quarter. Janus Henderson Group PLC now owns 22,671 shares of the transportation company’s stock valued at $4,505,000 after purchasing an additional 917 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Old Dominion Freight Line by 2.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,468 shares of the transportation company’s stock worth $887,000 after purchasing an additional 101 shares during the period. Finally, Wellington Management Group LLP grew its position in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 2.4 %

Old Dominion Freight Line stock opened at $152.06 on Monday. The firm has a market capitalization of $32.32 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.76 and a fifty-two week high of $233.26. The stock’s fifty day moving average is $179.81 and its two-hundred day moving average is $192.48.

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, 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%. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. 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 a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Evercore ISI lifted their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective on the stock. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $199.70.

Old Dominion Freight Line Company 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.