Bridges Investment Management Inc. Sells 4,041 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bridges Investment Management Inc. cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 684,112 shares of the transportation company's stock after selling 4,041 shares during the quarter. Old Dominion Freight Line accounts for about 1.6% of Bridges Investment Management Inc.'s portfolio, making the stock its 18th biggest position. Bridges Investment Management Inc. owned approximately 0.32% of Old Dominion Freight Line worth $113,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ODFL. American National Bank & Trust purchased a new stake in shares of Old Dominion Freight Line in the first quarter worth approximately $30,000. Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $39,000. Itau Unibanco Holding S.A. grew its holdings in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 192 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $3.39 during trading hours on Friday, hitting $167.73. 1,137,576 shares of the company's stock traded hands, compared to its average volume of 1,651,594. The firm has a market cap of $35.45 billion, a P/E ratio of 31.47, a P/E/G ratio of 3.49 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The business's fifty day simple moving average is $163.37 and its two-hundred day simple moving average is $170.80. 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 posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The firm's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.34 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is 21.01%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ODFL shares. Wells Fargo & Company increased their price objective on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an "underweight" rating in a report on Monday. Susquehanna decreased their target price on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Stifel Nicolaus decreased their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Truist Financial raised their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Robert W. Baird initiated coverage on Old Dominion Freight Line in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $164.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $174.45.

Old Dominion Freight Line Company 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.