Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 22.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,330 shares of the transportation company’s stock after selling 8,292 shares during the period. Raymond James & Associates’ holdings in Old Dominion Freight Line were worth $8,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Old Dominion Freight Line by 1,078.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 41,804 shares of the transportation company’s stock worth $10,400,000 after acquiring an additional 38,257 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at $5,909,000. Lincoln National Corp increased its holdings in Old Dominion Freight Line by 15.5% in the 4th quarter. Lincoln National Corp now owns 939 shares of the transportation company’s stock worth $267,000 after acquiring an additional 126 shares in the last quarter. Arizona State Retirement System lifted its holdings in Old Dominion Freight Line by 1.7% during the fourth quarter. Arizona State Retirement System now owns 26,892 shares of the transportation company’s stock valued at $7,631,000 after purchasing an additional 437 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of Old Dominion Freight Line by 12.9% during the fourth quarter. Natixis Advisors L.P. now owns 181,024 shares of the transportation company’s stock worth $51,371,000 after purchasing an additional 20,706 shares in the last quarter. 73.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP David J. Bates sold 1,208 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $344.71, for a total transaction of $416,409.68. Following the transaction, the senior vice president now directly owns 14,082 shares in the company, valued at $4,854,206.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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Several research firms recently issued reports on ODFL. 888 reiterated a “maintains” rating on shares of Old Dominion Freight Line in a report on Thursday, April 27th. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $340.00 to $339.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 4th. StockNews.com assumed coverage on Old Dominion Freight Line in a report on Thursday. They issued a “hold” rating on the stock. UBS Group upped their target price on shares of Old Dominion Freight Line from $284.00 to $388.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Finally, Citigroup raised their price target on shares of Old Dominion Freight Line from $275.00 to $380.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $333.89.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $301.41 on Friday. The firm has a market cap of $33.05 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.34 and a beta of 1.07. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 52 week low of $231.70 and a 52 week high of $381.81. The business’s fifty day simple moving average is $326.74 and its 200-day simple moving average is $318.83.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its earnings results on Wednesday, April 26th. The transportation company reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.11). Old Dominion Freight Line had a net margin of 21.96% and a return on equity of 37.55%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company earned $2.60 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 10.85 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, June 6th. This represents a $1.60 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 13.16%.

About Old Dominion Freight Line

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Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.