Amundi Sells 39,346 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Amundi reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 711,807 shares of the transportation company’s stock after selling 39,346 shares during the quarter. Amundi’s holdings in Old Dominion Freight Line were worth $127,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Verdence Capital Advisors LLC boosted its holdings in Old Dominion Freight Line by 8.8% in the third quarter. Verdence Capital Advisors LLC now owns 4,145 shares of the transportation company’s stock valued at $823,000 after acquiring an additional 337 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Old Dominion Freight Line by 8.8% in the third quarter. Lindbrook Capital LLC now owns 938 shares of the transportation company’s stock valued at $186,000 after acquiring an additional 76 shares during the last quarter. Covestor Ltd boosted its holdings in Old Dominion Freight Line by 12.7% in the third quarter. Covestor Ltd now owns 754 shares of the transportation company’s stock valued at $150,000 after acquiring an additional 85 shares during the last quarter. Sigma Planning Corp bought a new stake in Old Dominion Freight Line in the third quarter valued at approximately $244,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Old Dominion Freight Line by 0.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 71,528 shares of the transportation company’s stock valued at $14,208,000 after acquiring an additional 205 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on ODFL shares. Evercore ISI upped their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Susquehanna reiterated a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Jefferies Financial Group increased their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $201.74.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $177.97 on Tuesday. 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, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock’s 50 day moving average is $187.10 and its 200-day moving average is $196.29. The firm has a market capitalization of $37.83 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

About Old Dominion Freight Line

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.