Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 26,500 Shares of Old Dominion Freight Line, Inc. $ODFL

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,538 shares of the transportation company's stock after purchasing an additional 26,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.06% of Old Dominion Freight Line worth $18,116,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. WINTON GROUP Ltd boosted its stake in shares of Old Dominion Freight Line by 107.2% in the 4th quarter. WINTON GROUP Ltd now owns 15,497 shares of the transportation company's stock valued at $2,430,000 after purchasing an additional 8,016 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Old Dominion Freight Line by 21.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 15,612 shares of the transportation company's stock valued at $2,447,000 after purchasing an additional 2,713 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,846 shares of the transportation company's stock valued at $728,000 after purchasing an additional 243 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company's stock valued at $101,000 after purchasing an additional 57 shares during the last quarter. Finally, Vise Technologies Inc. boosted its stake in shares of Old Dominion Freight Line by 27.7% in the 4th quarter. Vise Technologies Inc. now owns 3,568 shares of the transportation company's stock valued at $560,000 after purchasing an additional 774 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ODFL. TD Cowen reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a research note on Wednesday. Barclays set a $210.00 target price on shares of Old Dominion Freight Line and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Wells Fargo & Company set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an "equal weight" rating in a research note on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $224.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Citigroup reissued a "neutral" rating and set a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $208.33.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.00% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $242.57 on Friday. The stock has a market cap of $50.45 billion, a P/E ratio of 50.75, a P/E/G ratio of 4.92 and a beta of 1.17. The firm has a 50 day moving average price of $209.88 and a 200 day moving average price of $185.49. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $249.14.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.19 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.37 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line's payout ratio is currently 24.27%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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