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

Envestnet Portfolio Solutions Inc. decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,655 shares of the transportation company's stock after selling 4,863 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Old Dominion Freight Line were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ODFL. Geode Capital Management LLC boosted its holdings in Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after purchasing an additional 96,410 shares during the last quarter. Norges Bank bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $494,916,000. Capital World Investors boosted its stake in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after buying an additional 27,367 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Old Dominion Freight Line by 15.2% in the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock valued at $349,952,000 after acquiring an additional 261,305 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after acquiring an additional 185,500 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 0.8%

Shares of NASDAQ ODFL traded down $1.38 during mid-day trading on Monday, hitting $162.30. The stock had a trading volume of 1,884,808 shares, compared to its average volume of 1,654,112. The business has a 50 day moving average price of $160.61 and a two-hundred day moving average price of $171.70. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $34.30 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 3.37 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its 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 return on equity of 27.40% and a net margin of 20.04%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.28 dividend. This represents a $1.12 annualized dividend 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%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ODFL shares. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a report on Wednesday, April 2nd. 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. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a "buy" rating and a $236.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus target price of $176.35.

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.