Public Employees Retirement System of Ohio Reduces Holdings in Old Dominion Freight Line, Inc. $ODFL

Public Employees Retirement System of Ohio lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,006 shares of the transportation company’s stock after selling 2,473 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Old Dominion Freight Line were worth $11,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ODFL. Annis Gardner Whiting Capital Advisors LLC boosted its position in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. Reflection Asset Management bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. bought a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $29,000. DT Investment Partners LLC lifted its stake in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $232.99 on Monday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a market capitalization of $48.45 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 4.21 and a beta of 1.18. The business’s fifty day simple moving average is $225.49 and its two-hundred day simple moving average is $205.06.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

Analysts Set New Price Targets

ODFL has been the topic of several recent research reports. Citigroup raised Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 price target on the stock in a research note on Thursday, July 9th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Friday, July 10th. Robert W. Baird set a $229.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $223.04.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.