Prudential Financial Inc. Reduces Stake in Old Dominion Freight Line (ODFL)

Prudential Financial Inc. decreased its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 453,857 shares of the transportation company’s stock after selling 4,693 shares during the period. Prudential Financial Inc.’s holdings in Old Dominion Freight Line were worth $56,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc boosted its position in Old Dominion Freight Line by 2.4% during the third quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock worth $1,041,243,000 after purchasing an additional 153,943 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Old Dominion Freight Line by 9,888.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock worth $34,000 after purchasing an additional 4,140,856 shares during the period. Capital International Investors bought a new stake in Old Dominion Freight Line during the third quarter worth approximately $419,457,000. Janus Henderson Group PLC boosted its position in Old Dominion Freight Line by 1.1% during the third quarter. Janus Henderson Group PLC now owns 2,522,237 shares of the transportation company’s stock worth $406,736,000 after purchasing an additional 26,258 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Old Dominion Freight Line by 9.7% during the third quarter. Bank of New York Mellon Corp now owns 807,134 shares of the transportation company’s stock worth $130,159,000 after purchasing an additional 71,408 shares during the period. Institutional investors own 70.63% of the company’s stock.

ODFL has been the subject of a number of recent analyst reports. Buckingham Research decreased their target price on Old Dominion Freight Line from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Credit Suisse Group reissued a “buy” rating and issued a $147.00 price objective on shares of Old Dominion Freight Line in a research report on Tuesday, January 15th. Bank of America raised Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 price objective for the company in a research report on Tuesday, October 30th. KeyCorp reduced their price objective on Old Dominion Freight Line from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, October 26th. Finally, BidaskClub raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $143.45.

Shares of ODFL stock opened at $152.00 on Friday. The firm has a market capitalization of $12.43 billion, a P/E ratio of 20.60, a PEG ratio of 2.28 and a beta of 1.38. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $170.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.98 and a quick ratio of 1.92.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, February 7th. The transportation company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.74 by $0.21. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Old Dominion Freight Line had a return on equity of 23.90% and a net margin of 14.98%. Old Dominion Freight Line’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $2.39 earnings per share. As a group, sell-side analysts predict that Old Dominion Freight Line will post 7.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a $0.17 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a yield of 0.45%. The ex-dividend date is Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 7.05%.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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