Prosperity Consulting Group LLC Sells 1,166 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prosperity Consulting Group LLC reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.9% in the fourth quarter, according to its most recent disclosure 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 quarter. Prosperity Consulting Group LLC’s holdings in Old Dominion Freight Line were worth $944,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Old Dominion Freight Line during the third quarter worth approximately $1,718,000. Synovus Financial Corp grew its stake in Old Dominion Freight Line by 2.4% in the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company’s stock worth $866,000 after purchasing an additional 101 shares in the last quarter. Franklin Resources Inc. increased its holdings in Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Old Dominion Freight Line during the 3rd quarter valued at $16,691,000. Finally, Retirement Systems of Alabama lifted its holdings in shares of Old Dominion Freight Line by 5.2% in the 3rd quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company’s stock worth $8,213,000 after buying an additional 2,044 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $146.74 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25. The stock’s 50-day simple moving average is $165.37 and its 200-day simple moving average is $187.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, equities 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.76%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ODFL. Evercore ISI cut their price target on 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. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Stephens reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.