Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 407,371 shares of the transportation company’s stock after selling 2,731 shares during the period. Envestnet Asset Management Inc. owned about 0.19% of Old Dominion Freight Line worth $71,860,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ODFL. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $51,000. Versant Capital Management Inc grew its position in 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 purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $69,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ODFL has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Citigroup raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $186.00 to $183.00 in a research report on Tuesday. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price objective for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $195.75.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $165.49 on Thursday. The stock has a market cap of $35.17 billion, a P/E ratio of 30.20, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a one year low of $145.79 and a one year high of $233.26. The company has a fifty day moving average price of $176.54 and a 200 day moving average price of $191.09. 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 released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 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%. Analysts anticipate 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Wednesday, March 5th. 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%.

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.