LPL Financial LLC Sells 9,495 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

LPL Financial LLC lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,077 shares of the transportation company's stock after selling 9,495 shares during the quarter. LPL Financial LLC owned about 0.06% of Old Dominion Freight Line worth $19,536,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Capital World Investors boosted its stake in Old Dominion Freight Line by 1.1% during the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock valued at $442,784,000 after buying an additional 27,367 shares during the last quarter. Northern Trust Corp increased its stake in Old Dominion Freight Line by 15.2% in the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after acquiring an additional 261,305 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after acquiring an additional 185,500 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position 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 valued at $255,390,000 after acquiring an additional 1,361,397 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Old Dominion Freight Line by 2.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after acquiring an additional 35,778 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 0.5%

Shares of Old Dominion Freight Line stock traded up $0.74 on Friday, hitting $146.07. 626,814 shares of the company traded hands, compared to its average volume of 1,843,062. The company has a current ratio of 1.38, a quick ratio of 1.32 and a debt-to-equity ratio of 0.04. The company has a market cap of $30.87 billion, a PE ratio of 28.56, a PEG ratio of 3.45 and a beta of 1.24. The stock's 50 day moving average price is $160.95 and its 200-day moving average price is $167.57. Old Dominion Freight Line, Inc. has a 52 week low of $141.73 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm earned $1.48 earnings per share. The company's revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is 21.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ODFL shares. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $200.00 in a research report on Monday, June 2nd. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Benchmark restated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. 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 report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $167.62.

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.