State Board of Administration of Florida Retirement System Has $8.83 Million Position in Old Dominion Freight Line (ODFL)

State Board of Administration of Florida Retirement System decreased its position in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 0.2% in the fourth quarter, Holdings Channel reports. The fund owned 71,462 shares of the transportation company’s stock after selling 174 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Old Dominion Freight Line were worth $8,825,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Capital International Investors acquired a new stake in Old Dominion Freight Line during the third quarter valued at $419,457,000. MERIAN GLOBAL INVESTORS UK Ltd grew its position in Old Dominion Freight Line by 5,010.3% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 254,850 shares of the transportation company’s stock valued at $41,097,000 after buying an additional 249,863 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Old Dominion Freight Line by 132.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 286,730 shares of the transportation company’s stock valued at $44,717,000 after buying an additional 163,258 shares during the period. Vanguard Group Inc grew its position in Old Dominion Freight Line by 2.4% during the third quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock valued at $1,041,243,000 after buying an additional 153,943 shares during the period. Finally, AQR Capital Management LLC grew its position in Old Dominion Freight Line by 23.3% during the third quarter. AQR Capital Management LLC now owns 697,608 shares of the transportation company’s stock valued at $112,496,000 after buying an additional 131,966 shares during the period. 77.41% of the stock is owned by institutional investors.

ODFL opened at $141.87 on Wednesday. The stock has a market cap of $11.68 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38. Old Dominion Freight Line has a twelve month low of $115.00 and a twelve month high of $170.22. The company has a current ratio of 1.98, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, February 7th. The transportation company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.21. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm earned $2.39 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts predict that Old Dominion Freight Line will post 7.86 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is 7.05%.

Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Argus dropped their target price on shares of Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. KeyCorp lifted their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 8th. BidaskClub lowered shares of Old Dominion Freight Line from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Finally, Bank of America upgraded shares of Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 target price on the stock in a research report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.45.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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