Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Lowered by Geneva Capital Management LLC

Geneva Capital Management LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,607 shares of the transportation company’s stock after selling 12,478 shares during the period. Geneva Capital Management LLC’s holdings in Old Dominion Freight Line were worth $14,925,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its position in shares of 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Old Dominion Freight Line by 4.5% in the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after acquiring an additional 46,570 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ODFL. Barclays cut their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley raised their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Evercore ISI raised their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Finally, Susquehanna reissued a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.67.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $176.52 on Thursday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. 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 firm has a market capitalization of $37.52 billion, a PE ratio of 32.21, a P/E/G ratio of 2.89 and a beta of 1.05. The company’s 50 day simple moving average is $187.27 and its 200 day simple moving average is $196.93.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. As a group, equities research analysts forecast 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. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend 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 is currently 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.