IFP Advisors Inc Sells 4,896 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

IFP Advisors Inc reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 33.2% in the 4th quarter, HoldingsChannel reports. The firm owned 9,847 shares of the transportation company’s stock after selling 4,896 shares during the quarter. IFP Advisors Inc’s holdings in Old Dominion Freight Line were worth $1,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in Old Dominion Freight Line in the fourth quarter valued at $7,359,000. World Equity Group Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $231,000. Howard Capital Management Inc. grew its holdings in shares of Old Dominion Freight Line by 2.7% during the fourth quarter. Howard Capital Management Inc. now owns 5,483 shares of the transportation company’s stock valued at $967,000 after buying an additional 145 shares during the last quarter. ST. Nicholas Private Asset Management Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $5,591,000. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Old Dominion Freight Line by 25.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 495 shares of the transportation company’s stock valued at $87,000 after buying an additional 99 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 1.1 %

ODFL opened at $179.88 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $38.40 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company’s 50-day moving average price is $188.24 and its two-hundred day moving average price is $197.64.

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

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 18.98%.

Analyst Ratings Changes

ODFL has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Evercore ISI lifted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Citigroup lifted their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. The Goldman Sachs Group lifted their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Morgan Stanley boosted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.