Vestcor Inc Sells 7,194 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vestcor Inc trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 67.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,540 shares of the transportation company’s stock after selling 7,194 shares during the quarter. Vestcor Inc’s holdings in Old Dominion Freight Line were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ODFL. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $41,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at $45,000. Brown Brothers Harriman & Co. increased its stake in shares of Old Dominion Freight Line by 398.1% during 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 period. Finally, Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 45.5% during 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 period. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ODFL. Evercore ISI raised their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Bank of America cut their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 target price on the stock. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company cut their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $162.50 on Monday. The business’s 50 day moving average price is $186.05 and its 200 day moving average price is $195.35. The firm has a market cap of $34.54 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52 week low of $159.35 and a 52 week high of $233.26. 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 (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. On average, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Old Dominion Freight Line 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.