Prudential Financial Inc. Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prudential Financial Inc. lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 95,938 shares of the transportation company’s stock after selling 14,675 shares during the quarter. Prudential Financial Inc.’s holdings in Old Dominion Freight Line were worth $16,923,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after acquiring an additional 55 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC grew its holdings in shares of Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 59 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $170.23 on Friday. The stock has a market cap of $36.18 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26. The stock has a 50 day moving average of $183.12 and a two-hundred day moving average of $193.71. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly 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 net margin of 20.40% and a return on equity of 28.02%. On average, research analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change 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

A number of research firms have recently weighed in on ODFL. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective on the stock. Truist Financial assumed coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They set a “buy” rating and a $220.00 price target on the stock. Barclays decreased their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Citigroup decreased their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $201.40.

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.