Public Employees Retirement System of Ohio Sells 4,754 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Public Employees Retirement System of Ohio lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,135 shares of the transportation company's stock after selling 4,754 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Old Dominion Freight Line were worth $16,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line during the second quarter worth $25,000. LRI Investments LLC boosted its position in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after acquiring an additional 79 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Old Dominion Freight Line by 472.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 189 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at about $45,000. Finally, Brown Brothers Harriman & Co. raised its position in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after purchasing an additional 215 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 0.1 %

NASDAQ:ODFL traded down $0.28 during trading hours on Wednesday, hitting $204.81. 1,874,967 shares of the stock were exchanged, compared to its average volume of 1,531,766. The company's 50 day moving average is $208.72 and its two-hundred day moving average is $195.69. The company has a market capitalization of $43.73 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 4.25 and a beta of 1.00. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. 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 (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.51%. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Barclays boosted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. Robert W. Baird dropped their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and reduced their target price for the company from $209.00 to $197.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line has an average rating of "Hold" and an average price target of $202.88.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares of the company's stock, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

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.