AustralianSuper Pty Ltd Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

AustralianSuper Pty Ltd trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 25.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,735 shares of the transportation company's stock after selling 185,142 shares during the period. AustralianSuper Pty Ltd owned about 0.26% of Old Dominion Freight Line worth $89,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Blueshift Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $630,000. Ameriprise Financial Inc. lifted its position in shares of Old Dominion Freight Line by 2.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after buying an additional 35,778 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Old Dominion Freight Line by 48.7% in the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after buying an additional 1,018 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $309,000. Finally, World Investment Advisors purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $360,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ODFL shares. UBS Group reduced their price objective on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Robert W. Baird started coverage on Old Dominion Freight Line in a research note on Tuesday, July 1st. They set a "neutral" rating and a $164.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target of $174.45.

Old Dominion Freight Line Trading Down 0.1%

Shares of ODFL traded down $0.14 during trading on Friday, reaching $162.09. 1,548,679 shares of the company traded hands, compared to its average volume of 1,642,091. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26. The stock has a market cap of $34.25 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 3.26 and a beta of 1.25. The stock has a 50-day simple moving average of $164.13 and a 200-day simple moving average of $170.08. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $1.34 earnings per share. The company's quarterly revenue was down 5.8% on a year-over-year basis. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

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.