Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Shelton Capital Management

Shelton Capital Management lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,586 shares of the transportation company’s stock after selling 458 shares during the quarter. Shelton Capital Management’s holdings in Old Dominion Freight Line were worth $4,690,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ODFL. Janus Henderson Group PLC boosted its position in shares of Old Dominion Freight Line by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 22,671 shares of the transportation company’s stock valued at $4,505,000 after acquiring an additional 917 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Old Dominion Freight Line by 2.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,468 shares of the transportation company’s stock worth $887,000 after purchasing an additional 101 shares during the period. Zacks Investment Management lifted its position in shares of Old Dominion Freight Line by 60.0% during the 3rd quarter. Zacks Investment Management now owns 8,906 shares of the transportation company’s stock worth $1,769,000 after purchasing an additional 3,340 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Old Dominion Freight Line by 7.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 86,772 shares of the transportation company’s stock worth $17,236,000 after acquiring an additional 5,957 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Old Dominion Freight Line by 2.1% during the 3rd quarter. M&T Bank Corp now owns 25,329 shares of the transportation company’s stock worth $5,031,000 after buying an additional 520 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.0 %

Shares of NASDAQ ODFL opened at $148.34 on Wednesday. The firm’s 50 day simple moving average is $177.36 and its two-hundred day simple moving average is $191.48. Old Dominion Freight Line, Inc. has a one year low of $145.02 and a one year high of $233.26. The stock has a market capitalization of $31.53 billion, a P/E ratio of 27.07, a PEG ratio of 2.89 and a beta of 1.25. 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 (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.76%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of several recent research reports. Bank of America decreased their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Raymond James dropped their price objective on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 target price for the company. Finally, StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $197.00.

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.