Farther Finance Advisors LLC Cuts Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Farther Finance Advisors LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,762 shares of the transportation company’s stock after selling 154 shares during the period. Farther Finance Advisors LLC’s holdings in Old Dominion Freight Line were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Blueshift Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $630,000. Ameriprise Financial Inc. boosted its stake in Old Dominion Freight Line by 2.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company’s stock worth $223,281,000 after buying an additional 35,778 shares during the period. Flossbach Von Storch SE boosted its stake in Old Dominion Freight Line by 119.5% during the fourth quarter. Flossbach Von Storch SE now owns 362,706 shares of the transportation company’s stock worth $63,981,000 after buying an additional 197,461 shares during the period. Callan Family Office LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $307,000. Finally, one8zero8 LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $431,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of research analyst reports. Susquehanna lowered their target price on Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Stephens reiterated an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Citigroup upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Barclays decreased their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI decreased their price target on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $176.50.

Old Dominion Freight Line Trading Down 1.7%

NASDAQ:ODFL opened at $156.67 on Wednesday. The stock has a fifty day moving average price of $159.58 and a two-hundred day moving average price of $174.95. The stock has a market capitalization of $33.11 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 3.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.32 and a current ratio of 1.32. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.01%.

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.