Rockland Trust Co. Has $258,000 Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Rockland Trust Co. trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,562 shares of the transportation company’s stock after selling 525 shares during the quarter. Rockland Trust Co.’s holdings in Old Dominion Freight Line were worth $258,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after purchasing an additional 96,410 shares during the period. Norges Bank acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $494,916,000. Capital World Investors increased its stake in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock worth $442,784,000 after acquiring an additional 27,367 shares during the period. Northern Trust Corp raised its holdings in Old Dominion Freight Line by 15.2% in the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after acquiring an additional 261,305 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Old Dominion Freight Line by 13.6% in the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock valued at $272,969,000 after acquiring an additional 185,500 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ODFL shares. Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Susquehanna reduced their price objective on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Citigroup raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their target price for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Bank of America boosted their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $176.50.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $160.18 on Friday. The business has a 50 day moving average of $159.53 and a 200-day moving average of $176.20. The company has a market capitalization of $33.85 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.89 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year 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.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line’s payout ratio is presently 21.01%.

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.