Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,591 shares of the transportation company’s stock after selling 10,566 shares during the quarter. Picton Mahoney Asset Management’s holdings in Old Dominion Freight Line were worth $5,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line in the third quarter valued at approximately $45,000. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. Brown Brothers Harriman & Co. lifted its stake 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 buying an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of research reports. Citigroup reduced their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price target for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Evercore ISI upped their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Truist Financial assumed coverage on Old Dominion Freight Line in a research note on Thursday. They set a “buy” rating and a $220.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned 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 currently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Down 0.3 %

Shares of NASDAQ:ODFL opened at $162.50 on Friday. The stock’s 50-day moving average price is $186.05 and its two-hundred day moving average price is $195.34. 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 12-month low of $159.35 and a 12-month high of $233.26. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 29.65, a PEG 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%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. 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 payout ratio is 18.98%.

Old Dominion Freight Line Company 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.