Bahl & Gaynor Inc. Sells 122 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bahl & Gaynor Inc. trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,343 shares of the transportation company’s stock after selling 122 shares during the period. Bahl & Gaynor Inc.’s holdings in Old Dominion Freight Line were worth $1,472,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in Old Dominion Freight Line by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after acquiring an additional 46,570 shares during the period. Steward Partners Investment Advisory LLC grew its position in Old Dominion Freight Line by 15.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,053 shares of the transportation company’s stock valued at $1,244,000 after acquiring an additional 921 shares during the period. Jones Financial Companies Lllp boosted its stake in Old Dominion Freight Line by 8.4% in the fourth quarter. Jones Financial Companies Lllp now owns 2,730 shares of the transportation company’s stock worth $482,000 after purchasing an additional 212 shares in the last quarter. Modera Wealth Management LLC boosted its stake in Old Dominion Freight Line by 7.7% in the fourth quarter. Modera Wealth Management LLC now owns 2,878 shares of the transportation company’s stock worth $508,000 after purchasing an additional 206 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Old Dominion Freight Line in the fourth quarter worth $319,000. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price target for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Jefferies Financial Group upped their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $200.67.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $174.99 on Wednesday. The stock has a 50 day moving average price of $187.27 and a 200 day moving average price of $196.93. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $37.19 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 return on equity of 28.02% and a net margin of 20.40%. Analysts predict 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost 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 dividend payout ratio (DPR) is presently 18.98%.

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.