Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,949 shares of the transportation company’s stock after selling 1,103 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Old Dominion Freight Line were worth $7,047,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ODFL. Wellington Management Group LLP lifted its holdings in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $128,221,000. Raymond James Financial Inc. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $114,449,000. Thrivent Financial for Lutherans lifted its holdings in shares of Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after buying an additional 573,586 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 2.5 %

Shares of ODFL stock opened at $165.22 on Friday. The stock’s 50-day simple moving average is $184.41 and its 200-day simple moving average is $194.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $35.12 billion, a PE ratio of 30.15, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of analyst reports. Evercore ISI upped their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Bank of America decreased their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Susquehanna restated a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Stephens restated an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $202.65.

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.