Voya Investment Management LLC Has $21.87 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Voya Investment Management LLC lowered its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 123,993 shares of the transportation company’s stock after selling 14,288 shares during the period. Voya Investment Management LLC owned 0.06% of Old Dominion Freight Line worth $21,872,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $494,916,000. T. Rowe Price Investment Management Inc. boosted its position in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $128,221,000. Raymond James Financial Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $114,449,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after buying an additional 573,586 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the topic of a number of research reports. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus decreased their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. Finally, UBS Group dropped their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $182.95.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $146.74 on Friday. 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 stock has a market cap of $31.13 billion, a PE ratio of 26.78, a P/E/G ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The business’s 50-day moving average price is $165.37 and its two-hundred day moving average price is $187.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, analysts expect 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. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

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.