Guggenheim Capital LLC Sells 7,395 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Guggenheim Capital LLC cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,412 shares of the transportation company’s stock after selling 7,395 shares during the quarter. Guggenheim Capital LLC’s holdings in Old Dominion Freight Line were worth $9,598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $494,916,000. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $128,221,000. Raymond James Financial Inc. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $114,449,000. Thrivent Financial for Lutherans raised its position in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after buying an additional 573,586 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $79,380,000. 77.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ODFL shares. Bank of America reduced their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus decreased their target price on Old Dominion Freight Line from $200.00 to $188.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Truist Financial initiated coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $195.15.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $147.85 on Thursday. 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’s fifty day moving average is $172.78 and its two-hundred day moving average is $189.60. Old Dominion Freight Line, Inc. has a 52 week low of $145.79 and a 52 week high of $233.26. The company has a market capitalization of $31.42 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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, 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.76%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 20.44%.

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.