Allspring Global Investments Holdings LLC Has $87.63 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 498,575 shares of the transportation company’s stock after selling 13,984 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Old Dominion Freight Line were worth $87,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the business. Synergy Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line during the third quarter worth $45,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the period. Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $64,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ODFL shares. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Susquehanna restated a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. TD Cowen dropped their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, BMO Capital Markets reduced their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Price Performance

ODFL opened at $203.02 on Thursday. The company has a fifty day moving average price of $189.21 and a two-hundred day moving average price of $197.78. The firm has a market capitalization of $43.34 billion, a PE ratio of 37.05, a P/E/G ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. 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 (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

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.