Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Cut by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,959 shares of the transportation company’s stock after selling 179 shares during the quarter. Kentucky Retirement Systems’ holdings in Old Dominion Freight Line were worth $2,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC boosted its stake in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after purchasing an additional 55 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after purchasing an additional 62 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

ODFL opened at $180.40 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The stock has a fifty day moving average of $188.96 and a 200-day moving average of $197.81. The firm has a market capitalization of $38.52 billion, a P/E ratio of 32.92, a PEG ratio of 2.89 and a beta of 1.05.

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 (EPS) for the quarter, topping the consensus estimate 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 forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ODFL. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Stephens reissued 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. JPMorgan Chase & Co. raised 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. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Bank of America reduced 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. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.33.

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.