Louisiana State Employees Retirement System Trims Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Louisiana State Employees Retirement System lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,700 shares of the transportation company’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Old Dominion Freight Line were worth $4,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ODFL. State Street Corp grew its position in Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after buying an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after buying an additional 78,587 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ODFL shares. Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Citigroup increased their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $203.02 on Thursday. The firm’s fifty day simple moving average is $189.21 and its two-hundred day simple moving average is $197.78. The firm has a market capitalization of $43.34 billion, a P/E ratio of 37.05, a P/E/G ratio of 5.30 and a beta of 1.05. The company has a current ratio of 1.33, a quick 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.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Old Dominion Freight Line 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.