Vest Financial LLC Sells 75,420 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vest Financial LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 42.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,428 shares of the transportation company's stock after selling 75,420 shares during the period. Vest Financial LLC's holdings in Old Dominion Freight Line were worth $16,947,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ODFL. Norges Bank acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $494,916,000. T. Rowe Price Investment Management Inc. increased its stake in 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 buying an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Old Dominion Freight Line by 92.3% in the 4th 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 last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of ODFL traded up $0.65 during trading hours on Friday, hitting $160.33. The stock had a trading volume of 1,232,644 shares, compared to its average volume of 1,640,657. The company's fifty day moving average is $158.79 and its two-hundred day moving average is $178.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The stock has a market capitalization of $33.88 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 2.89 and a beta of 1.26.

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 for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts anticipate 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 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ODFL. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective on the stock. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group decreased their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Barclays decreased their target price on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average target price of $180.42.

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.