Reaves W H & Co. Inc. Reduces Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Reaves W H & Co. Inc. lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,389 shares of the transportation company’s stock after selling 5,191 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Old Dominion Freight Line were worth $6,066,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after purchasing an additional 279,946 shares during the period. Geode Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP boosted its stake in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after purchasing an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Old Dominion Freight Line by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after purchasing an additional 78,587 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.4 %

Shares of NASDAQ:ODFL opened at $172.28 on Tuesday. The stock has a market capitalization of $36.62 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.89 and a beta of 1.05. 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 stock’s 50-day simple moving average is $187.41 and its two-hundred day simple moving average is $197.11. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 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 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%. Analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed 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 is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of a number of analyst reports. Citigroup increased their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Barclays dropped their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Susquehanna reaffirmed 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 note on Tuesday, January 7th. Evercore ISI raised 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. Finally, Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $203.72.

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.