Venturi Wealth Management LLC Sells 7,740 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• Venturi Wealth Management LLC reduced its holdings in Old Dominion Freight Line by 80.1%, owning 1,921 shares worth $318,000.
• Several institutional investors, including Norges Bank and T. Rowe Price, significantly increased their stakes in Old Dominion Freight Line during the 4th quarter.
• Analysts have mixed ratings on the company, with a consensus "Hold" recommendation and an average price target of $174.85.

Venturi Wealth Management LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 80.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,921 shares of the transportation company's stock after selling 7,740 shares during the period. Venturi Wealth Management LLC's holdings in Old Dominion Freight Line were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ODFL. Larson Financial Group LLC raised its holdings in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after acquiring an additional 108 shares during the period. American National Bank & Trust bought a new position in Old Dominion Freight Line during the 1st quarter worth $30,000. Wayfinding Financial LLC bought a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. Itau Unibanco Holding S.A. increased its position in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 192 shares during the period. Finally, Olde Wealth Management LLC bought a new position in Old Dominion Freight Line during the 1st quarter worth $43,000. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Raymond James Financial set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a report on Thursday, April 24th. Jefferies Financial Group lowered their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Bank of America raised their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $174.85.

Old Dominion Freight Line Trading Down 1.3%

ODFL traded down $2.20 during trading on Tuesday, reaching $162.13. 699,556 shares of the company's stock were exchanged, compared to its average volume of 1,781,959. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $34.26 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.37 and a beta of 1.25. The firm has a fifty day moving average price of $163.40 and a two-hundred day moving average price of $169.45.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is presently 21.01%.

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.