Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Reduced by KBC Group NV

KBC Group NV reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,698 shares of the transportation company's stock after selling 2,424 shares during the quarter. KBC Group NV's holdings in Old Dominion Freight Line were worth $5,410,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the period. Raymond James Financial Inc. bought a new stake in Old Dominion Freight Line during the fourth quarter valued at $114,449,000. Thrivent Financial for Lutherans raised its holdings in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after purchasing an additional 573,586 shares during the period. Finally, GAMMA Investing LLC raised its stake in Old Dominion Freight Line by 24,499.9% during the first quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock worth $85,105,000 after acquiring an additional 512,293 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ODFL. Benchmark reiterated a "hold" rating and set a $102.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Truist Financial boosted their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Barclays decreased their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average price target of $174.55.

Old Dominion Freight Line Trading Up 0.7%

Shares of ODFL stock traded up $1.23 during trading hours on Thursday, reaching $171.08. 1,369,300 shares of the stock traded hands, compared to its average volume of 1,649,646. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $36.15 billion, a PE ratio of 32.10, a PEG ratio of 3.47 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The business has a fifty day moving average price of $161.27 and a 200 day moving average price of $171.67.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 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 analysts' expectations of $1.38 billion. During the same quarter last year, the firm posted $1.34 earnings per share. Old Dominion Freight Line's revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. Old Dominion Freight Line's payout ratio is presently 21.01%.

Old Dominion Freight Line 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.