Corebridge Financial Inc. Has $12.35 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Corebridge Financial Inc. lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,013 shares of the transportation company’s stock after selling 2,356 shares during the period. Corebridge Financial Inc.’s holdings in Old Dominion Freight Line were worth $12,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $128,221,000. Toronto Dominion Bank lifted 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 purchasing an additional 42,880 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $630,000. Finally, Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $600,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $167.60 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $157.67 and a 52 week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $183.88 and a 200-day moving average price of $194.05. The company has a market cap of $35.62 billion, a PE ratio of 30.58, a price-to-earnings-growth 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 return on equity of 28.02% and a net margin of 20.40%. Equities analysts anticipate 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.67%. Old Dominion Freight Line’s payout ratio is 18.98%.

Analyst Ratings Changes

ODFL has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Susquehanna restated a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, Bank of America dropped their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average 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.