DnB Asset Management AS Sells 16,708 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

DnB Asset Management AS decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,908 shares of the transportation company’s stock after selling 16,708 shares during the period. DnB Asset Management AS’s holdings in Old Dominion Freight Line were worth $6,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ODFL. Hantz Financial Services Inc. lifted its stake in shares of Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares during the last quarter. Evergreen Private Wealth LLC boosted its holdings in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after buying an additional 59 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake 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 valued at $1,668,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 3.2 %

Shares of NASDAQ ODFL opened at $164.85 on Monday. The firm has a market cap of $35.04 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company’s 50-day simple moving average is $182.63 and its 200-day simple moving average is $193.59. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ODFL shares. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Truist Financial began coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 price target for the company. StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $201.40.

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.