Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,530 shares of the transportation company’s stock after selling 2,242 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $14,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. increased its stake in Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares in the last quarter. Evergreen Private Wealth LLC grew its position in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after buying an additional 59 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after acquiring an additional 61 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Old Dominion Freight Line by 0.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after acquiring an additional 62 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Evercore ISI lifted their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. 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. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $201.40.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $164.85 on Monday. The stock has a market cap of $35.04 billion, a PE ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. 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 1 year low of $157.67 and a 1 year high of $233.26. The stock has a fifty day moving average price of $182.63 and a 200 day moving average price of $193.59.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. 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.