Envestnet Portfolio Solutions Inc. Sells 4,863 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 57.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,655 shares of the transportation company's stock after selling 4,863 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Old Dominion Freight Line were worth $605,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $494,916,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 1,575.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after buying an additional 1,361,397 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $114,449,000. Thrivent Financial for Lutherans boosted its holdings in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after buying an additional 573,586 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Old Dominion Freight Line by 24,499.9% during the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock worth $85,105,000 after buying an additional 512,293 shares during the period. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ODFL shares. Stifel Nicolaus decreased their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stephens reaffirmed an "overweight" rating and set a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Susquehanna decreased their price objective on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $176.10.

Old Dominion Freight Line Trading Up 0.4%

Shares of ODFL stock opened at $160.99 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a market capitalization of $34.02 billion, a P/E ratio of 30.20, a P/E/G ratio of 3.31 and a beta of 1.26. The firm has a 50-day moving average price of $160.16 and a 200 day moving average price of $172.70. 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 announced its quarterly earnings results 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. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $1.34 EPS. The firm's quarterly revenue was down 5.8% on a year-over-year basis. Research analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.70%. 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 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.

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