Hartford Investment Management Co. Sells 225 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hartford Investment Management Co. trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,631 shares of the transportation company’s stock after selling 225 shares during the period. Hartford Investment Management Co.’s holdings in Old Dominion Freight Line were worth $2,052,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $41,000. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. grew its position in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the period. Versant Capital Management Inc grew its position in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter worth approximately $64,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $206.39 on Friday. The company has a fifty day moving average price of $189.28 and a 200 day moving average price of $197.84. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The firm has a market cap of $44.06 billion, a PE ratio of 37.66, a PEG ratio of 5.30 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ODFL shares. Barclays reduced their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets reduced their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group raised their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $203.33.

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.