Hartford Investment Management Co. Sells 225 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hartford Investment Management Co. lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,631 shares of the transportation company’s stock after selling 225 shares during the period. Hartford Investment Management Co.’s holdings in Old Dominion Freight Line were worth $2,052,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Avanza Fonder AB bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $3,741,000. Toronto Dominion Bank increased its holdings in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Old Dominion Freight Line during the fourth quarter worth $600,000. Sequoia Financial Advisors LLC raised its position in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Reliant Investment Management LLC lifted its stake in Old Dominion Freight Line by 10.4% in the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after acquiring an additional 2,060 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Barclays dropped their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $206.39 on Friday. The firm has a 50-day moving average price of $189.28 and a two-hundred day moving average price of $197.84. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a market capitalization of $44.06 billion, a P/E ratio of 37.66, a P/E/G ratio of 5.30 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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 anticipate that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is 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.