Valeo Financial Advisors LLC Cuts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Valeo Financial Advisors LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,136 shares of the transportation company’s stock after selling 543 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Old Dominion Freight Line were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Blue Trust Inc. boosted its stake in shares of Old Dominion Freight Line by 72.2% in the 3rd quarter. Blue Trust Inc. now owns 1,746 shares of the transportation company’s stock worth $347,000 after buying an additional 732 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $67,000. Evernest Financial Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $1,005,000. Calton & Associates Inc. raised its holdings in shares of Old Dominion Freight Line by 187.0% in the 3rd quarter. Calton & Associates Inc. now owns 3,300 shares of the transportation company’s stock worth $656,000 after purchasing an additional 2,150 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after purchasing an additional 1,017 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of 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. Finally, Evercore ISI boosted their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Trading Up 1.4 %

Old Dominion Freight Line stock opened at $209.29 on Wednesday. The stock has a market cap of $44.68 billion, a P/E ratio of 38.19, a PEG ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm’s fifty day moving average price is $189.48 and its 200-day moving average price is $197.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 5th. 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 yield of 0.54%. Old Dominion Freight Line’s 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.