Teacher Retirement System of Texas Buys 122,006 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Teacher Retirement System of Texas raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 639.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,093 shares of the transportation company’s stock after purchasing an additional 122,006 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Old Dominion Freight Line worth $24,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ODFL. State Street Corp lifted its position in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after buying an additional 279,946 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after buying an additional 275,236 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Old Dominion Freight Line by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after buying an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after buying an additional 46,570 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ODFL. Truist Financial began coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. Citigroup cut their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Susquehanna reissued a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Trading Up 2.5 %

Shares of ODFL opened at $165.22 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26. The business’s fifty day moving average is $184.41 and its 200-day moving average is $194.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

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.