Great Lakes Retirement Inc. Sells 10,870 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Great Lakes Retirement Inc. lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 74.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,665 shares of the transportation company's stock after selling 10,870 shares during the period. Great Lakes Retirement Inc.'s holdings in Old Dominion Freight Line were worth $606,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after acquiring an additional 79 shares during the last quarter. Empowered Funds LLC raised its holdings in Old Dominion Freight Line by 22.7% during the 4th quarter. Empowered Funds LLC now owns 4,347 shares of the transportation company's stock worth $767,000 after purchasing an additional 804 shares during the last quarter. Savant Capital LLC lifted its position in Old Dominion Freight Line by 38.4% during the 4th quarter. Savant Capital LLC now owns 2,365 shares of the transportation company's stock valued at $417,000 after purchasing an additional 656 shares during the period. Van ECK Associates Corp boosted its stake in shares of Old Dominion Freight Line by 0.4% in the 4th quarter. Van ECK Associates Corp now owns 42,075 shares of the transportation company's stock valued at $7,422,000 after purchasing an additional 187 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Old Dominion Freight Line by 2.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 76,309 shares of the transportation company's stock worth $13,753,000 after buying an additional 1,948 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $159.45 on Tuesday. The company has a market capitalization of $33.70 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 2.89 and a beta of 1.26. The business's 50-day moving average price is $159.76 and its two-hundred day moving average price is $175.07. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Old Dominion Freight Line's quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ODFL shares. Jefferies Financial Group cut their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. UBS Group cut their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and upped their price objective for the company from $190.00 to $200.00 in a report on Monday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $176.50.

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.

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