CIBC Private Wealth Group LLC Sells 119,392 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

CIBC Private Wealth Group LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,686,237 shares of the transportation company’s stock after selling 119,392 shares during the period. Old Dominion Freight Line accounts for about 2.8% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 6th largest holding. CIBC Private Wealth Group LLC owned 4.07% of Old Dominion Freight Line worth $1,559,875,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $35,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $51,000. Versant Capital Management Inc grew its stake in shares of Old Dominion Freight Line by 45.5% in the 4th 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. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 3.2 %

NASDAQ:ODFL opened at $164.85 on Friday. The company has a market capitalization of $35.04 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. The stock’s 50 day moving average price is $182.63 and its 200 day moving average price is $193.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $157.67 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate 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%. On average, 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research reports. Citigroup reduced their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday. Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Finally, Barclays cut their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $201.40.

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.