Public Employees Retirement System of Ohio Has $10.29 Million Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Old Dominion Freight Line by 9.8%, owning 63,403 shares worth $10.29 million after a sale of 6,916 shares.
• Old Dominion Freight Line reported a net margin of 19.42% and earnings per share of $1.27 for the last quarter, missing the consensus estimate of $1.29.
• The company recently declared a quarterly dividend of $0.28 per share, translating to an annualized yield of 0.8%.

Public Employees Retirement System of Ohio reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,403 shares of the transportation company's stock after selling 6,916 shares during the period. Public Employees Retirement System of Ohio's holdings in Old Dominion Freight Line were worth $10,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Old Dominion Freight Line by 48.7% in the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after buying an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Old Dominion Freight Line by 9.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock worth $2,911,000 after buying an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Old Dominion Freight Line by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock valued at $1,507,000 after purchasing an additional 443 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Old Dominion Freight Line by 29.0% in the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock valued at $395,000 after purchasing an additional 537 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC increased its stake in Old Dominion Freight Line by 6.0% in the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company's stock valued at $17,839,000 after purchasing an additional 6,133 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $138.59 on Friday. The company has a fifty day moving average of $150.14 and a 200-day moving average of $157.39. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $29.13 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.22 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly 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 net margin of 19.42% and a return on equity of 25.94%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $1.48 EPS. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is currently 21.88%.

Analysts Set New Price Targets

ODFL has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a report on Thursday, July 31st. Benchmark reaffirmed a "hold" rating and set a $102.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Truist Financial increased their price objective on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Barclays set a $155.00 price target on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Stephens lowered their price target on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $166.95.

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.

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