California Public Employees Retirement System Has $102.58 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

California Public Employees Retirement System lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 581,525 shares of the transportation company’s stock after selling 25,280 shares during the period. California Public Employees Retirement System owned 0.27% of Old Dominion Freight Line worth $102,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its stake in shares of Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after acquiring an additional 55 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Evergreen Private Wealth LLC raised its position in shares of Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after buying an additional 62 shares during the period. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Truist Financial initiated coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They set a “buy” rating and a $220.00 price target for the company. Finally, StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $200.20.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $165.45 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business’s fifty day moving average price is $182.14 and its two-hundred day moving average price is $193.41. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The stock has a market capitalization of $35.17 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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 net margin of 20.40% and a return on equity of 28.02%. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 18.98%.

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.