Scotia Capital Inc. Sells 150 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Scotia Capital Inc. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 648 shares of the transportation company’s stock after selling 150 shares during the period. Scotia Capital Inc.’s holdings in Old Dominion Freight Line were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Old Dominion Freight Line by 14.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock worth $7,371,000 after purchasing an additional 2,335 shares in the last quarter. US Bancorp DE lifted its position in shares of Old Dominion Freight Line by 1.0% in the fourth quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock worth $7,351,000 after buying an additional 182 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in Old Dominion Freight Line by 67.5% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 45,962 shares of the transportation company’s stock valued at $18,630,000 after buying an additional 18,517 shares during the last quarter. Parnassus Investments LLC grew its holdings in Old Dominion Freight Line by 42.4% during the 4th quarter. Parnassus Investments LLC now owns 339,520 shares of the transportation company’s stock valued at $137,618,000 after buying an additional 101,079 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Old Dominion Freight Line by 8.6% in the 4th quarter. Wells Fargo & Company MN now owns 149,092 shares of the transportation company’s stock worth $60,431,000 after acquiring an additional 11,820 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research reports. TD Cowen lowered their target price on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their target price on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Twelve equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $209.13.

Get Our Latest Stock Report on Old Dominion Freight Line

Old Dominion Freight Line Trading Up 2.1 %

NASDAQ ODFL opened at $175.70 on Thursday. The company’s 50-day simple moving average is $199.33 and its two-hundred day simple moving average is $202.92. Old Dominion Freight Line, Inc. has a one year low of $149.00 and a one year high of $227.80. The company has a market capitalization of $38.18 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.18 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

About Old Dominion Freight Line

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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