Wealth Enhancement Advisory Services LLC Has $2.83 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wealth Enhancement Advisory Services LLC lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,066 shares of the transportation company's stock after selling 17,704 shares during the period. 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.

Several other hedge funds also recently bought and sold shares of ODFL. Norges Bank acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $494,916,000. T. Rowe Price Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the fourth quarter worth $128,221,000. Raymond James Financial Inc. bought a new position in Old Dominion Freight Line in the fourth quarter valued at $114,449,000. Finally, Thrivent Financial for Lutherans increased its stake in 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 valued at $210,856,000 after buying an additional 573,586 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Susquehanna decreased their price objective on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the company an "underweight" rating in a research report on Thursday, April 24th. Stephens restated an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. UBS Group dropped their price objective on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $180.42.

Old Dominion Freight Line Price Performance

ODFL stock traded up $0.65 during midday trading on Friday, reaching $160.33. The company had a trading volume of 1,232,644 shares, compared to its average volume of 1,641,209. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The stock has a 50 day moving average price of $158.79 and a 200-day moving average price of $177.66. 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 $33.88 billion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company earned $1.34 EPS. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid 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 presently 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.