Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,373 shares of the transportation company’s stock after selling 22,454 shares during the quarter. William Blair Investment Management LLC’s holdings in Old Dominion Freight Line were worth $37,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cibc World Markets Corp increased its stake in Old Dominion Freight Line by 12.7% in the fourth quarter. Cibc World Markets Corp now owns 34,571 shares of the transportation company’s stock valued at $6,098,000 after purchasing an additional 3,886 shares during the last quarter. Nicholas Company Inc. increased its stake in Old Dominion Freight Line by 6.1% in the fourth quarter. Nicholas Company Inc. now owns 95,565 shares of the transportation company’s stock valued at $16,858,000 after purchasing an additional 5,495 shares during the last quarter. GWN Securities Inc. acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $222,000. one8zero8 LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $431,000. Finally, Natixis Advisors LLC increased its stake in Old Dominion Freight Line by 10.3% in the fourth quarter. Natixis Advisors LLC now owns 358,402 shares of the transportation company’s stock valued at $63,222,000 after purchasing an additional 33,496 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 2.2 %

Shares of ODFL opened at $166.12 on Tuesday. The company has a market capitalization of $35.31 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a one year low of $159.11 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50-day moving average price of $185.72 and a 200 day moving average price of $195.17.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results 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 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 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase 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%.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Susquehanna restated a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Truist Financial initiated coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price target for the company. Stephens restated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $202.65.

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.