California Public Employees Retirement System Sells 25,280 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

California Public Employees Retirement System lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 581,525 shares of the transportation company's stock after selling 25,280 shares during the quarter. California Public Employees Retirement System owned 0.27% of Old Dominion Freight Line worth $102,581,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group lifted its position in Old Dominion Freight Line by 164.7% in the 4th quarter. Schroder Investment Management Group now owns 199,355 shares of the transportation company's stock worth $35,342,000 after buying an additional 124,052 shares during the last quarter. Allstate Corp bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $1,004,000. Pictet Asset Management Holding SA boosted its stake in shares of Old Dominion Freight Line by 11.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 117,502 shares of the transportation company's stock valued at $20,727,000 after purchasing an additional 11,823 shares in the last quarter. Norges Bank bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $494,916,000. Finally, Caisse Des Depots ET Consignations purchased a new position in Old Dominion Freight Line in the 4th quarter worth $465,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 2.4 %

Shares of NASDAQ ODFL traded down $3.69 during mid-day trading on Friday, hitting $152.06. 3,326,316 shares of the stock traded hands, compared to its average volume of 1,646,353. The stock has a fifty day moving average price of $179.81 and a 200-day moving average price of $192.51. 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 company has a market cap of $32.32 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52 week low of $147.06 and a 52 week high of $233.26.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS 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 paid a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.98%.

Analyst Ratings Changes

ODFL has been the subject of several analyst reports. Evercore ISI upped their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Barclays decreased their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Stifel Nicolaus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and lifted their target price for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $199.70.

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.