Bradley Foster & Sargent Inc. CT Sells 349 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bradley Foster & Sargent Inc. CT reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,600 shares of the transportation company’s stock after selling 349 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Old Dominion Freight Line were worth $811,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ODFL. Paradigm Asset Management Co. LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $776,000. Flossbach Von Storch SE boosted its holdings in Old Dominion Freight Line by 119.5% during the fourth quarter. Flossbach Von Storch SE now owns 362,706 shares of the transportation company’s stock worth $63,981,000 after purchasing an additional 197,461 shares during the last quarter. Handelsbanken Fonder AB grew its position in Old Dominion Freight Line by 11.1% in the fourth quarter. Handelsbanken Fonder AB now owns 117,487 shares of the transportation company’s stock valued at $20,725,000 after purchasing an additional 11,715 shares in the last quarter. Freedom Day Solutions LLC increased its stake in Old Dominion Freight Line by 11.2% in the 4th quarter. Freedom Day Solutions LLC now owns 11,014 shares of the transportation company’s stock valued at $1,943,000 after buying an additional 1,108 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in Old Dominion Freight Line by 1.4% in the 4th quarter. Global Retirement Partners LLC now owns 6,067 shares of the transportation company’s stock valued at $1,070,000 after buying an additional 83 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

ODFL opened at $180.40 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $38.52 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. The business has a fifty day simple moving average of $188.96 and a 200 day simple moving average of $197.81. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year 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, beating 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 expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ODFL. Bank of America decreased their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stephens reissued an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Morgan Stanley boosted 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 report on Thursday, February 6th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $203.33.

About Old Dominion Freight Line

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.