Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,535 shares of the transportation company’s stock after selling 338 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Old Dominion Freight Line were worth $2,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $45,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $41,000. Brown Brothers Harriman & Co. boosted its position in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter worth approximately $64,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Old Dominion Freight Line during the third quarter worth $67,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $205.77 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $189.37 and a 200 day simple moving average of $197.74. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ODFL shares. Stifel Nicolaus lifted their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Evercore ISI raised their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. BMO Capital Markets decreased their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Robert W. Baird decreased their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $203.33.

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.