Victory Capital Management Inc. Sells 51,704 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Victory Capital Management Inc. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 175,146 shares of the transportation company’s stock after selling 51,704 shares during the period. Victory Capital Management Inc. owned 0.08% of Old Dominion Freight Line worth $30,896,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $45,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $41,000. Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Old Dominion Freight Line in the third quarter valued at about $64,000. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ODFL. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Evercore ISI raised their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Susquehanna reiterated a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $202.53.

Old Dominion Freight Line Trading Up 1.1 %

NASDAQ:ODFL opened at $179.55 on Monday. The stock has a market capitalization of $38.16 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The business’s 50-day simple moving average is $187.08 and its 200-day simple moving average is $196.45. 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, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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 expect 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.62%. Old Dominion Freight Line’s payout ratio is presently 18.98%.

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.