Wealth Enhancement Advisory Services LLC Reduces Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,066 shares of the transportation company's stock after selling 17,704 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Old Dominion Freight Line were worth $2,834,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth $291,000. E. Ohman J or Asset Management AB boosted its position in Old Dominion Freight Line by 8.9% during the fourth quarter. E. Ohman J or Asset Management AB now owns 8,550 shares of the transportation company's stock worth $1,508,000 after purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Old Dominion Freight Line by 7.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,846 shares of the transportation company's stock worth $12,718,000 after purchasing an additional 4,772 shares during the period. Finally, Choreo LLC boosted its position in Old Dominion Freight Line by 25.6% during the fourth quarter. Choreo LLC now owns 7,188 shares of the transportation company's stock worth $1,273,000 after purchasing an additional 1,464 shares during the period. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent research reports. Stephens reissued an "overweight" rating and issued 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. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price target for the company from $190.00 to $200.00 in a research note on Monday. Jefferies Financial Group dropped their price target 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. Bank of America boosted 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. Finally, Truist Financial lowered their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus price target of $180.42.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $1.81 during trading hours on Thursday, reaching $159.68. The stock had a trading volume of 1,320,095 shares, compared to its average volume of 1,646,461. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current 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 company has a 50 day moving average price of $159.04 and a two-hundred day moving average price of $178.93. The stock has a market capitalization of $33.74 billion, a PE ratio of 29.14, a PEG ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The company's quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line's payout ratio is 21.01%.

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.