Public Employees Retirement Association of Colorado Acquires 13,028 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Public Employees Retirement Association of Colorado grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 87.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,894 shares of the transportation company’s stock after purchasing an additional 13,028 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Old Dominion Freight Line were worth $6,117,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ODFL. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $29,000. Fortitude Family Office LLC grew its holdings in shares of Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares during the period. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after acquiring an additional 83 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $1.24 during mid-day trading on Monday, reaching $201.69. The stock had a trading volume of 768,239 shares, compared to its average volume of 1,621,887. The company has a current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $43.83 billion, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The business’s 50 day moving average price is $180.27 and its 200 day moving average price is $198.82.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Analysts Set New Price Targets

Several analysts recently commented on ODFL shares. Morgan Stanley cut their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Barclays cut their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Bank of America lifted their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $202.78.

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.