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

Corient Private Wealth LLC cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,235 shares of the transportation company’s stock after selling 4,750 shares during the quarter. Corient Private Wealth LLC owned approximately 0.09% of Old Dominion Freight Line worth $32,145,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $128,221,000. Raymond James Financial Inc. purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $114,449,000. Franklin Resources Inc. raised its stake in Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after purchasing an additional 437,700 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Old Dominion Freight Line in the 4th quarter valued at about $49,983,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Up 2.2 %

Shares of ODFL opened at $166.12 on Tuesday. Old Dominion Freight Line, Inc. has a 12 month low of $159.11 and a 12 month high of $233.26. The stock’s 50-day moving average is $185.72 and its two-hundred day moving average is $195.17. 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 stock has a market cap of $35.31 billion, a PE ratio of 30.31, a P/E/G 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, topping the consensus estimate 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%. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ODFL. JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Barclays reduced 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 research note on Monday, March 10th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price objective for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Jefferies Financial Group raised their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $202.65.

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.