Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Weitz Investment Management Inc.

Weitz Investment Management Inc. lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 189,900 shares of the transportation company’s stock after selling 20,000 shares during the quarter. Old Dominion Freight Line accounts for about 1.7% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 21st biggest position. Weitz Investment Management Inc.’s holdings in Old Dominion Freight Line were worth $33,498,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ODFL. Hantz Financial Services Inc. grew its holdings in Old Dominion Freight Line by 3.6% in the 4th 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 in the last quarter. D.A. Davidson & CO. grew its stake in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC increased its holdings in shares of 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 purchasing an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of 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 valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in Old Dominion Freight Line by 0.7% in 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. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

NASDAQ:ODFL opened at $167.09 on Wednesday. The business’s fifty day moving average price is $181.68 and its 200 day moving average price is $193.23. The firm has a market capitalization of $35.51 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.89 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Analyst Ratings Changes

Several research firms have commented on ODFL. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Finally, Bank of America cut 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. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $200.20.

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.