PGGM Investments Has $1.83 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

PGGM Investments decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,381 shares of the transportation company’s stock after selling 1,022 shares during the period. PGGM Investments’ holdings in Old Dominion Freight Line were worth $1,831,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $41,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter worth $45,000. Brown Brothers Harriman & Co. raised its holdings in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Bank of America cut their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Finally, StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $162.98 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $158.64 and a 12 month high of $233.26. The company has a market capitalization of $34.64 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.89 and a beta of 1.10. The stock has a 50 day moving average of $186.67 and a two-hundred day moving average of $195.81. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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%. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 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.