Kentucky Retirement Systems Insurance Trust Fund Has $1.30 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 85.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,906 shares of the transportation company’s stock after buying an additional 2,718 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Old Dominion Freight Line were worth $1,295,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ODFL. Vanguard Group Inc. lifted its stake in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after purchasing an additional 2,888,205 shares during the last quarter. Capital Research Global Investors lifted its stake in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Finally, Capital World Investors lifted its stake in Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a report on Monday, April 29th. Raymond James increased their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday. Susquehanna lowered their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Finally, BMO Capital Markets raised their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $202.78.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded down $0.39 during mid-day trading on Monday, reaching $202.54. The company had a trading volume of 254,940 shares, compared to its average volume of 1,618,579. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. 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 $44.01 billion, a P/E ratio of 35.73, a P/E/G ratio of 3.92 and a beta of 1.00. The business has a fifty day simple moving average of $180.27 and a 200 day simple moving average of $198.82.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.73 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

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.