Bridges Investment Management Inc. Has $113.19 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bridges Investment Management Inc. reduced 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 13F filing with the Securities & Exchange Commission. The firm owned 684,112 shares of the transportation company's stock after selling 4,041 shares during the quarter. Old Dominion Freight Line accounts for 1.6% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 18th biggest holding. Bridges Investment Management Inc. owned about 0.32% of Old Dominion Freight Line worth $113,186,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ODFL. Blueshift Asset Management LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter valued at $630,000. Ameriprise Financial Inc. grew its stake in shares of Old Dominion Freight Line by 2.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after buying an additional 35,778 shares in the last quarter. Callan Family Office LLC acquired a new position in Old Dominion Freight Line in the fourth quarter worth approximately $307,000. GAMMA Investing LLC raised its position in Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after acquiring an additional 1,018 shares in the last quarter. Finally, one8zero8 LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $431,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 0.4%

Shares of ODFL traded up $0.63 on Wednesday, reaching $168.01. 896,589 shares of the company's stock were exchanged, compared to its average volume of 1,654,103. The business has a 50 day moving average price of $162.66 and a two-hundred day moving average price of $170.88. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The stock has a market capitalization of $35.50 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 3.46 and a beta of 1.25. The company has a current ratio of 1.32, a quick 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 earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 EPS. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays cut their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Truist Financial boosted their target price on shares of 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. UBS Group cut their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group dropped their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.