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

Public Employees Retirement System of Ohio decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,231 shares of the transportation company's stock after selling 4,904 shares during the quarter. 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 quarter.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. increased its position in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 192 shares during the period. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $51,000. Finally, CoreCap Advisors LLC increased its holdings in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock valued at $60,000 after purchasing an additional 168 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Jefferies Financial Group decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Evercore ISI decreased their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Finally, Bank of America increased their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus price target of $182.26.

Old Dominion Freight Line Stock Down 1.1%

Shares of NASDAQ ODFL traded down $1.78 during mid-day trading on Wednesday, reaching $162.43. 1,015,095 shares of the company's stock traded hands, compared to its average volume of 1,661,669. The stock has a market cap of $34.33 billion, a P/E ratio of 29.64, a PEG ratio of 2.89 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The business has a 50-day simple moving average of $159.80 and a 200 day simple moving average of $181.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The business 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 28.02% and a net margin of 20.40%. The company's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.69%. Old Dominion Freight Line's dividend payout ratio (DPR) 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.