Victory Capital Management Inc. Sells 8,776 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Victory Capital Management Inc. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,370 shares of the transportation company's stock after selling 8,776 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Old Dominion Freight Line worth $27,526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after acquiring an additional 108 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth about $30,000. Wayfinding Financial LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth about $39,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Old Dominion Freight Line by 518.9% in 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 last quarter. Finally, Olde Wealth Management LLC bought a new stake in Old Dominion Freight Line in the 1st quarter valued at about $43,000. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ODFL shares. Susquehanna decreased their price target on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Stifel Nicolaus cut their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Baird R W raised Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Jefferies Financial Group cut their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Bank of America upped their target price 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $174.45.

Old Dominion Freight Line Stock Up 0.7%

Shares of ODFL opened at $163.25 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The business's 50 day moving average is $164.13 and its 200 day moving average is $170.04. The company has a market capitalization of $34.50 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 3.26 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is 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.

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