Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 889,196 shares of the transportation company’s stock after selling 167,295 shares during the period. Clearbridge Investments LLC’s holdings in Old Dominion Freight Line were worth $156,854,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ODFL. Fiduciary Trust Co boosted its position in shares of Old Dominion Freight Line by 14.8% in the 3rd quarter. Fiduciary Trust Co now owns 1,659 shares of the transportation company’s stock valued at $330,000 after purchasing an additional 214 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Old Dominion Freight Line by 62.7% in the third quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company’s stock worth $1,443,000 after buying an additional 2,800 shares during the period. Hantz Financial Services Inc. increased its position in shares of Old Dominion Freight Line by 3.8% in the third quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock worth $301,000 after acquiring an additional 56 shares in the last quarter. Icon Wealth Advisors LLC increased its position in shares of Old Dominion Freight Line by 38.2% in the third quarter. Icon Wealth Advisors LLC now owns 1,115 shares of the transportation company’s stock worth $221,000 after acquiring an additional 308 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Old Dominion Freight Line by 1.7% during the third quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock valued at $1,490,000 after acquiring an additional 124 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 3.2 %

Shares of ODFL stock opened at $164.85 on Monday. The stock’s 50 day simple moving average is $182.63 and its 200 day simple moving average is $193.59. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month 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. The company has a market capitalization of $35.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 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%. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were 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. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ODFL shares. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Barclays lowered their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Evercore ISI increased their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $201.40.

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.