US Bancorp DE Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

US Bancorp DE reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,632 shares of the transportation company’s stock after selling 678 shares during the quarter. US Bancorp DE’s holdings in Old Dominion Freight Line were worth $4,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ODFL. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth $45,000. Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ODFL shares. Jefferies Financial Group raised their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Evercore ISI raised their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley raised their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.67.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $176.52 on Thursday. 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 company’s 50-day moving average price is $187.27 and its two-hundred day moving average price is $196.93. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The stock has a market cap of $37.52 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results 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 return on equity of 28.02% and a net margin of 20.40%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS 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 paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.