Public Employees Retirement System of Ohio Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Public Employees Retirement System of Ohio decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,231 shares of the transportation company's stock after selling 4,904 shares during the period. Public Employees Retirement System of Ohio's holdings in Old Dominion Freight Line were worth $13,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ODFL. Norges Bank purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Old Dominion Freight Line by 1,575.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after acquiring an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line during the 4th quarter worth $128,221,000. Raymond James Financial Inc. purchased a new position in Old Dominion Freight Line during the 4th quarter worth $114,449,000. Finally, Thrivent Financial for Lutherans lifted its position in Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after acquiring an additional 573,586 shares during the period. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a "buy" rating and a $236.00 price target on the stock. Raymond James set a $185.00 price objective on Old Dominion Freight Line and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays cut their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Truist Financial cut their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $182.26.

Old Dominion Freight Line Trading Down 1.9%

Shares of ODFL stock traded down $3.00 during mid-day trading on Friday, hitting $159.01. 517,967 shares of the company's stock were exchanged, compared to its average volume of 1,653,351. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The stock has a 50-day simple moving average of $159.58 and a two-hundred day simple moving average of $180.63. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $33.60 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.89 and a beta of 1.31.

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 the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the firm earned $1.34 earnings per share. The business's revenue was down 5.8% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line's 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.