Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,938 shares of the transportation company’s stock after selling 14,675 shares during the quarter. Prudential Financial Inc.’s holdings in Old Dominion Freight Line were worth $16,923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in shares of Old Dominion Freight Line by 64.1% in the 3rd quarter. Cerity Partners LLC now owns 32,110 shares of the transportation company’s stock valued at $6,378,000 after purchasing an additional 12,537 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Bank of Montreal Can increased its position in shares of Old Dominion Freight Line by 0.4% in the third quarter. Bank of Montreal Can now owns 296,448 shares of the transportation company’s stock valued at $58,314,000 after buying an additional 1,178 shares in the last quarter. Avestar Capital LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $223,000. Finally, Baldwin Investment Management LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

ODFL has been the subject of a number of research analyst reports. StockNews.com upgraded 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 set 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. Jefferies Financial Group lifted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Stephens restated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $201.40.

Old Dominion Freight Line Trading Up 0.9 %

Shares of Old Dominion Freight Line stock opened at $170.23 on Friday. The stock has a 50 day moving average of $183.12 and a 200 day moving average of $193.71. 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 firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26.

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

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. 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 (DPR) is 18.98%.

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.