Public Sector Pension Investment Board Acquires 2,140 Shares of Old Dominion Freight Line, Inc. $ODFL

Public Sector Pension Investment Board raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,998 shares of the transportation company's stock after purchasing an additional 2,140 shares during the quarter. Public Sector Pension Investment Board's holdings in Old Dominion Freight Line were worth $4,136,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares during the period. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $30,000. Itau Unibanco Holding S.A. grew its stake in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 192 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $39,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $39,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $4.56 during trading hours on Wednesday, hitting $150.24. The stock had a trading volume of 1,512,188 shares, compared to its average volume of 1,846,417. Old Dominion Freight Line, Inc. has a one year low of $140.91 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The stock's 50-day moving average price is $159.01 and its two-hundred day moving average price is $165.21. The stock has a market capitalization of $31.58 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 3.46 and a beta of 1.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $1.48 earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.88%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ODFL. Susquehanna decreased their price objective on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Vertical Research raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. Evercore ISI decreased their price objective 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, April 24th. Finally, Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a "neutral" rating in a research note on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $167.62.

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.