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

Public Employees Retirement Association of Colorado reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,913 shares of the transportation company’s stock after selling 1,430 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Old Dominion Freight Line were worth $4,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $51,000. Versant Capital Management Inc raised its stake in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $69,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $149.65 on Wednesday. The stock’s fifty day moving average is $163.30 and its two-hundred day moving average is $186.94. The firm has a market capitalization of $31.75 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.75%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 21.01%.

Analyst Ratings Changes

ODFL has been the subject of several research analyst reports. Stephens restated an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. Evercore ISI reduced 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 research report on Thursday, April 24th. Susquehanna reduced their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial reduced their price target on Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $183.37.

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.