Versor Investments LP Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Versor Investments LP lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 75.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,767 shares of the transportation company’s stock after selling 5,303 shares during the period. Versor Investments LP’s holdings in Old Dominion Freight Line were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp lifted its stake in Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after buying an additional 275,236 shares during the period. Wellington Management Group LLP raised its holdings in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after acquiring an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after acquiring an additional 78,587 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ODFL shares. Morgan Stanley boosted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Finally, Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $203.72.

Old Dominion Freight Line Price Performance

ODFL stock opened at $172.28 on Tuesday. The business has a 50 day moving average price of $187.41 and a 200 day moving average price of $197.11. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $36.62 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. Old Dominion Freight Line’s payout ratio is 18.98%.

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.