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

Bridges Investment Management Inc. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,112 shares of the transportation company's stock after selling 4,041 shares during the period. Old Dominion Freight Line accounts for about 1.6% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 18th largest holding. Bridges Investment Management Inc. owned 0.32% of Old Dominion Freight Line worth $113,186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new stake in Old Dominion Freight Line in the first quarter valued at approximately $30,000. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter worth about $39,000. Itau Unibanco Holding S.A. grew its holdings in shares of Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the last quarter. Olde Wealth Management LLC acquired a new position in Old Dominion Freight Line during the 1st quarter worth about $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $51,000. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of research reports. Robert W. Baird started coverage on shares of Old Dominion Freight Line in a research report on Tuesday, July 1st. They set a "neutral" rating and a $164.00 target price on the stock. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Evercore ISI dropped their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $174.45.

Old Dominion Freight Line Stock Up 2.3%

Shares of NASDAQ:ODFL traded up $3.83 during trading on Thursday, reaching $171.84. 573,372 shares of the stock were exchanged, compared to its average volume of 1,649,865. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The stock has a fifty day moving average of $162.96 and a two-hundred day moving average of $170.86. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 3.46 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (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 the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. Old Dominion Freight Line's revenue was down 5.8% compared to the same quarter last year. 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 announced 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 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

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.