Old Dominion Freight Line, Inc. $ODFL Stock Position Raised by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden increased its stake in Old Dominion Freight Line by 5.2% in the first quarter, adding 6,050 shares and bringing its total holdings to 121,588 shares worth about $23.8 million.
• Old Dominion Freight Line reported better-than-expected quarterly earnings of $1.14 per share and revenue of $1.33 billion, both ahead of analyst estimates, though revenue was still down 2.9% year over year.
• The company recently paid a quarterly dividend of $0.29 per share, and analysts currently hold a consensus rating of “Hold” with an average price target of $218.57.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,588 shares of the transportation company's stock after acquiring an additional 6,050 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.06% of Old Dominion Freight Line worth $23,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Reflection Asset Management acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $28,000. DT Investment Partners LLC raised its holdings in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after buying an additional 180 shares during the period. DV Equities LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $40,000. Torren Management LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $50,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $217.65 on Friday. The business's 50-day moving average price is $218.55 and its two-hundred day moving average price is $197.40. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The company has a market capitalization of $45.26 billion, a P/E ratio of 45.53, a price-to-earnings-growth ratio of 4.36 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a $0.29 dividend. The ex-dividend date was 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 24.27%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the company a "hold" rating in a report on Tuesday, June 9th. BMO Capital Markets reiterated an "outperform" rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Susquehanna boosted their target price on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a "neutral" rating in a research note on Tuesday, June 2nd. Stifel Nicolaus increased their target price on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Finally, Barclays raised their target price on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $218.57.

Insider Buying and Selling

In other Old Dominion Freight Line 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 value of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares of the company's stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Company Profile

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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