Prosperity Consulting Group LLC Trims Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prosperity Consulting Group LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,351 shares of the transportation company’s stock after selling 1,166 shares during the period. Prosperity Consulting Group LLC’s holdings in Old Dominion Freight Line were worth $944,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the fourth quarter valued at $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $41,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $51,000. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $69,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 7.7 %

Shares of ODFL opened at $146.74 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock has a market cap of $31.13 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The firm’s fifty day moving average is $165.37 and its two-hundred day moving average is $187.61. 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 posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 21.01%.

Analyst Ratings Changes

ODFL has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group cut their target price on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company set a $150.00 price target on shares of Old Dominion Freight Line and gave the stock an “underweight” rating in a report on Thursday. Truist Financial cut their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a report on Thursday. Finally, Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven 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 currently has a consensus rating of “Hold” and a consensus price target of $182.95.

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.