Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 28.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,209 shares of the transportation company’s stock after selling 480 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ODFL. Avanza Fonder AB purchased a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $3,741,000. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line during the 4th quarter worth $128,221,000. Toronto Dominion Bank grew its holdings in shares of Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $630,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $600,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 3.2 %

Shares of NASDAQ:ODFL opened at $164.85 on Friday. The firm has a market capitalization of $35.04 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. 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 firm’s 50-day moving average is $182.63 and its two-hundred day moving average is $193.55.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. 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 payout ratio is presently 18.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ODFL shares. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial began coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price target for the company. Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their target price for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Finally, The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $201.40.

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.