Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 6.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 65,372 shares of the transportation company's stock after selling 4,600 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Old Dominion Freight Line were worth $10,816,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ODFL. Geode Capital Management LLC raised its position in Old Dominion Freight Line by 2.0% during the 4th 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 acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $494,916,000. Capital World Investors grew its holdings in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after acquiring an additional 27,367 shares during the period. Northern Trust Corp grew its stake in shares of 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 valued at $349,952,000 after buying an additional 261,305 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Old Dominion Freight Line by 13.6% in the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after buying an additional 185,500 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 1.4%

Shares of NASDAQ:ODFL traded down $2.23 during trading hours on Friday, hitting $160.18. The company's stock had a trading volume of 1,530,714 shares, compared to its average volume of 1,640,333. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $33.85 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 2.89 and a beta of 1.27. The firm's fifty day moving average price is $159.53 and its 200 day moving average price is $176.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Old Dominion Freight Line's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be 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 is Wednesday, June 4th. Old Dominion Freight Line's payout ratio is 21.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ODFL shares. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Truist Financial dropped their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Stephens reissued an "overweight" rating and set a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. Finally, Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the stock an "underweight" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $176.50.

About Old Dominion Freight Line

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.