GWM Advisors LLC lessened its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 35.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,286 shares of the transportation company’s stock after selling 6,805 shares during the period. GWM Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. Rockefeller Capital Management L.P. raised its holdings in shares of Old Dominion Freight Line by 1,975.0% during the first quarter. Rockefeller Capital Management L.P. now owns 249 shares of the transportation company’s stock valued at $36,000 after buying an additional 237 shares during the last quarter. CWM LLC raised its holdings in shares of Old Dominion Freight Line by 42.5% during the first quarter. CWM LLC now owns 258 shares of the transportation company’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $42,000. Finally, Ranger Investment Management L.P. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $36,000. 70.56% of the stock is currently owned by institutional investors.

NASDAQ:ODFL traded up $1.05 during midday trading on Wednesday, hitting $141.79. 8,156 shares of the stock were exchanged, compared to its average volume of 505,386. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $170.22. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.31 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.19 and a quick ratio of 2.19.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 25th. The transportation company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.06. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The firm had revenue of $990.78 million for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Old Dominion Freight Line will post 7.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.68 annualized dividend and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is 9.21%.

Old Dominion Freight Line declared that its board has initiated a stock buyback program on Thursday, May 16th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price target on Old Dominion Freight Line from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. ValuEngine cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Bank of America dropped their target price on Old Dominion Freight Line from $157.00 to $144.00 and set a “neutral” rating on the stock in a report on Thursday, June 6th. Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a report on Friday, April 5th. Finally, BidaskClub cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $147.80.

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Old Dominion Freight Line Company Profile

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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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