Alpha Omega Wealth Management LLC Decreases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Alpha Omega Wealth Management LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 90.4% during the first quarter, Holdings Channel reports. The fund owned 22,880 shares of the transportation company’s stock after selling 216,472 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $5,018,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. LPL Financial LLC boosted its stake in shares of Old Dominion Freight Line by 11.8% in the 3rd quarter. LPL Financial LLC now owns 43,585 shares of the transportation company’s stock valued at $17,832,000 after buying an additional 4,585 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in Old Dominion Freight Line by 14.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock worth $96,000 after acquiring an additional 30 shares during the last quarter. Bank of Nova Scotia grew its holdings in Old Dominion Freight Line by 40.6% during the 3rd quarter. Bank of Nova Scotia now owns 68,503 shares of the transportation company’s stock worth $28,024,000 after acquiring an additional 19,778 shares in the last quarter. Gotham Asset Management LLC increased its position in shares of Old Dominion Freight Line by 18.2% in the 3rd quarter. Gotham Asset Management LLC now owns 10,823 shares of the transportation company’s stock valued at $4,428,000 after purchasing an additional 1,668 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $4,016,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of recent analyst reports. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a report on Wednesday, May 8th. Susquehanna decreased their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, June 12th. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a report on Monday, April 29th. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Wells Fargo & Company began coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $201.18.

Old Dominion Freight Line Stock Up 1.3 %

ODFL stock opened at $176.60 on Friday. The stock has a market capitalization of $38.37 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a fifty day moving average of $179.13 and a 200-day moving average of $200.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

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.