London Co. of Virginia Trims Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

London Co. of Virginia lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,078,840 shares of the transportation company’s stock after selling 11,651 shares during the quarter. London Co. of Virginia’s holdings in Old Dominion Freight Line were worth $190,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ODFL. Avanza Fonder AB purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $3,741,000. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $128,221,000. Blueshift Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $630,000. Board of the Pension Protection Fund purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $600,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Old Dominion Freight Line by 2.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company’s stock valued at $223,281,000 after buying an additional 35,778 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ODFL. Truist Financial cut their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a report on Wednesday, April 2nd. Stephens restated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Susquehanna cut their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Barclays cut their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $183.37.

Old Dominion Freight Line Stock Down 1.1%

Shares of NASDAQ ODFL opened at $158.28 on Monday. The stock has a market cap of $33.45 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. 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, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The business has a 50-day moving average price of $159.88 and a 200 day moving average price of $184.47.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

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.