Principal Financial Group Inc. Has $70.84 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Principal Financial Group Inc. decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 428,187 shares of the transportation company's stock after selling 28,888 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Old Dominion Freight Line worth $70,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock valued at $870,311,000 after purchasing an additional 96,410 shares in the last quarter. Norges Bank bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $494,916,000. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock valued at $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Northern Trust Corp boosted its position in shares of Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock valued at $349,952,000 after purchasing an additional 261,305 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after buying an additional 185,500 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 3.9%

ODFL traded down $6.72 during midday trading on Monday, hitting $164.31. 1,496,901 shares of the company's stock traded hands, compared to its average volume of 1,653,770. The company has a market cap of $34.72 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.25. The stock's fifty day simple moving average is $162.00 and its 200-day simple moving average is $171.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The company's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 earnings per share. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.68%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Analysts Set New Price Targets

Several research analysts have commented on ODFL shares. Barclays decreased their target price on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Truist Financial raised their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus price target of $175.05.

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.