Gladstone Institutional Advisory LLC Sells 2,570 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gladstone Institutional Advisory LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,983 shares of the transportation company’s stock after selling 2,570 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Old Dominion Freight Line were worth $1,937,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Avanza Fonder AB acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $3,741,000. Toronto Dominion Bank boosted its holdings in shares of Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $600,000. Sequoia Financial Advisors LLC grew its stake in shares of Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after buying an additional 1,017 shares in the last quarter. Finally, Reliant Investment Management LLC increased its holdings in Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after buying an additional 2,060 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of recent analyst reports. TD Cowen cut their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays dropped their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets reduced their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup boosted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $203.02 on Thursday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. 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’s 50-day simple moving average is $189.21 and its 200 day simple moving average is $197.78. The firm has a market cap of $43.34 billion, a price-to-earnings ratio of 37.05, a P/E/G ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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 net margin of 20.40% and a return on equity of 28.02%. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Old Dominion Freight Line Profile

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.