Treasurer of the State of North Carolina Trims Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Treasurer of the State of North Carolina reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,066 shares of the transportation company's stock after selling 2,970 shares during the quarter. Treasurer of the State of North Carolina's holdings in Old Dominion Freight Line were worth $15,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its stake in shares of Old Dominion Freight Line by 2.1% during the third quarter. M&T Bank Corp now owns 25,329 shares of the transportation company's stock valued at $5,031,000 after purchasing an additional 520 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Old Dominion Freight Line by 6.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,639 shares of the transportation company's stock valued at $728,000 after acquiring an additional 230 shares in the last quarter. Toronto Dominion Bank grew its position in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Old Dominion Freight Line by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 49,568 shares of the transportation company's stock valued at $10,917,000 after buying an additional 12,095 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $1,718,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the subject of several research reports. Jefferies Financial Group cut their price target on 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. Truist Financial began coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price for the company. Stifel Nicolaus cut their target price on Old Dominion Freight Line from $200.00 to $188.00 and set a "buy" rating on the stock in a research note on Monday. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Bank of America lowered their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $195.15.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded up $6.66 on Thursday, hitting $154.51. The company had a trading volume of 669,243 shares, compared to its average volume of 1,672,220. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $32.84 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.89 and a beta of 1.25. The stock has a 50 day moving average price of $172.78 and a 200 day moving average price of $189.60. Old Dominion Freight Line, Inc. has a 1-year low of $145.79 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.72%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is 20.44%.

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.