Ieq Capital LLC Sells 10,950 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ieq Capital LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 84.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,943 shares of the transportation company’s stock after selling 10,950 shares during the period. Ieq Capital LLC’s holdings in Old Dominion Freight Line were worth $343,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth about $41,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line in the third quarter worth $45,000. Brown Brothers Harriman & Co. lifted its position in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc boosted its position in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $64,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ODFL shares. Morgan Stanley lifted their price target on 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. Jefferies Financial Group boosted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price objective for the company from $193.00 to $200.00 in a research report on Monday. Finally, The Goldman Sachs Group increased 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 report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, sixteen have given 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.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $203.72.

Old Dominion Freight Line Trading Down 0.5 %

ODFL opened at $174.77 on Friday. The company has a market cap of $37.31 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. The company has a fifty day moving average price of $187.66 and a two-hundred day moving average price of $197.33. 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, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. 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 is Wednesday, March 5th. Old Dominion Freight Line’s 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.