Edgestream Partners L.P. Lowers Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Edgestream Partners L.P. trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 87.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,800 shares of the transportation company’s stock after selling 34,841 shares during the period. Edgestream Partners L.P.’s holdings in Old Dominion Freight Line were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the fourth quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $41,000. Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Old Dominion Freight Line during the third quarter worth about $64,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 6.1 %

Shares of Old Dominion Freight Line stock opened at $167.03 on Wednesday. The firm has a market cap of $35.50 billion, a PE ratio of 30.48, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The business’s fifty day moving average is $186.91 and its two-hundred day moving average is $196.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Ratings Changes

A number of research analysts have issued reports on ODFL shares. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Barclays decreased their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday. Susquehanna restated a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $201.74.

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.