Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Lowered by Shelton Capital Management

Shelton Capital Management cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,586 shares of the transportation company’s stock after selling 458 shares during the quarter. Shelton Capital Management’s holdings in Old Dominion Freight Line were worth $4,690,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after buying an additional 55 shares during the last quarter. D.A. Davidson & CO. raised its stake in Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Evergreen Private Wealth LLC increased its stake in Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after acquiring an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Old Dominion Freight Line by 0.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.0 %

Shares of ODFL stock opened at $148.34 on Wednesday. The stock has a fifty day simple moving average of $177.36 and a two-hundred day simple moving average of $191.48. 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, Inc. has a 52-week low of $145.02 and a 52-week high of $233.26. The firm has a market capitalization of $31.53 billion, a PE ratio of 27.07, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.76%. 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 dividend payout ratio is presently 18.98%.

Analysts Set New Price Targets

Several analysts have recently commented on ODFL shares. Susquehanna decreased their target price on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $186.00 to $183.00 in a research note on Tuesday. The Goldman Sachs Group increased 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. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Raymond James cut their target price on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $197.00.

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.