Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Decreased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,238 shares of the transportation company’s stock after selling 298 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Old Dominion Freight Line were worth $395,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the third quarter valued at approximately $45,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $41,000. Brown Brothers Harriman & Co. lifted its stake in shares of 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 worth $53,000 after buying an additional 215 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter valued at $64,000. Finally, Versant Capital Management Inc raised its stake in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $180.40 on Monday. The company has a market capitalization of $38.52 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 2.89 and a beta of 1.05. The firm’s 50 day simple moving average is $188.96 and its 200 day simple moving average is $197.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results 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 net margin of 20.40% and a return on equity of 28.02%. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. This is a boost 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%.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Citigroup upped their target price on shares of 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. Morgan Stanley boosted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays lowered their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group boosted their price target 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, StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $203.33.

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.