5,625 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,625 shares of the transportation company's stock, valued at approximately $931,000.

Several other institutional investors have also modified their holdings of the company. Kentucky Retirement Systems increased its stake in shares of Old Dominion Freight Line by 1.9% in the first quarter. Kentucky Retirement Systems now owns 13,206 shares of the transportation company's stock valued at $2,185,000 after purchasing an additional 247 shares during the period. PFG Investments LLC raised its stake in Old Dominion Freight Line by 22.0% during the 1st quarter. PFG Investments LLC now owns 2,331 shares of the transportation company's stock valued at $386,000 after acquiring an additional 421 shares in the last quarter. Jamison Private Wealth Management Inc. grew its stake in shares of Old Dominion Freight Line by 9.1% in the first quarter. Jamison Private Wealth Management Inc. now owns 11,076 shares of the transportation company's stock worth $1,832,000 after purchasing an additional 922 shares in the last quarter. North Growth Management Ltd. grew its stake in shares of Old Dominion Freight Line by 19.2% in the first quarter. North Growth Management Ltd. now owns 31,000 shares of the transportation company's stock worth $5,095,000 after purchasing an additional 5,000 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Old Dominion Freight Line by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 22,001 shares of the transportation company's stock valued at $3,640,000 after purchasing an additional 585 shares during the period. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on ODFL shares. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. UBS Group dropped their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Susquehanna lowered their price target on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Finally, Bank of America boosted their price target on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $176.10.

Old Dominion Freight Line Stock Up 0.4%

Shares of Old Dominion Freight Line stock traded up $0.61 on Tuesday, hitting $161.97. 1,176,087 shares of the company traded hands, compared to its average volume of 1,635,252. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a 50-day moving average price of $159.59 and a 200 day moving average price of $173.16. The company has a market cap of $34.23 billion, a PE ratio of 30.39, a PEG ratio of 3.21 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The company 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 27.40% and a net margin of 20.04%. The business's quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Old Dominion Freight Line Company 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.