Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Old Dominion Freight Line by 30%, owning a total of 23,862 shares valued at approximately $3.95 million.
• Old Dominion Freight Line reported a quarterly EPS of $1.27, missing the consensus estimate of $1.29, with quarterly revenue of $1.41 billion, down 6.1% year-over-year.
• The company also announced a quarterly dividend of $0.28 per share, to be paid on September 17, indicating a dividend yield of 0.7% based on its payout ratio of 21.88%.

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,862 shares of the transportation company's stock after buying an additional 5,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Old Dominion Freight Line were worth $3,948,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $39,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 0.0%

Shares of NASDAQ:ODFL opened at $151.14 on Friday. The firm has a fifty day moving average price of $159.51 and a two-hundred day moving average price of $165.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a one year low of $140.91 and a one year high of $233.26. The company has a market cap of $31.77 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 3.48 and a beta of 1.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business's revenue was down 6.1% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is currently 21.88%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Truist Financial raised their price target on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Bank of America raised their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Company 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.

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