Great Lakes Retirement Inc. Sells 338 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Great Lakes Retirement Inc. reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,535 shares of the transportation company’s stock after selling 338 shares during the period. Great Lakes Retirement Inc.’s holdings in Old Dominion Freight Line were worth $2,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its holdings 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 worth $1,516,324,000 after buying an additional 279,946 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 grew its position 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 purchasing an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the period. 77.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ODFL shares. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird reduced their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target 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. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Up 2.0 %

Shares of NASDAQ ODFL opened at $205.77 on Wednesday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The firm has a market capitalization of $43.93 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 5.30 and a beta of 1.05. The stock has a 50 day moving average price of $189.37 and a 200 day moving average price of $197.74. 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 (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm 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 yield of 0.54%. 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 presently 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.