Louisiana State Employees Retirement System Sells 1,200 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Louisiana State Employees Retirement System trimmed 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. The firm owned 25,700 shares of the transportation company’s stock after selling 1,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Old Dominion Freight Line were worth $4,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Peterson Wealth Services grew its position in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Peterson Wealth Services now owns 14,464 shares of the transportation company’s stock valued at $2,551,000 after acquiring an additional 130 shares during the period. Savant Capital LLC lifted its position in Old Dominion Freight Line by 38.4% during the fourth quarter. Savant Capital LLC now owns 2,365 shares of the transportation company’s stock valued at $417,000 after purchasing an additional 656 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Old Dominion Freight Line by 0.7% during the fourth 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 during the period. Stephens Inc. AR raised its stake in shares of Old Dominion Freight Line by 11.1% in the fourth quarter. Stephens Inc. AR now owns 8,282 shares of the transportation company’s stock worth $1,461,000 after buying an additional 826 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $1,193,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $203.02 on Thursday. The firm has a fifty day simple moving average of $189.21 and a two-hundred day simple moving average of $197.78. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week 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. The stock has a market capitalization of $43.34 billion, a P/E ratio of 37.05, a PEG ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 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%. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared 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 0.55%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Stifel Nicolaus lifted their target price on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Morgan Stanley upped their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price 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.