PensionDanmark Pensionsforsikringsaktieselskab Has $6.81 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,456 shares of the transportation company’s stock after purchasing an additional 2,900 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Old Dominion Freight Line were worth $6,813,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $13,322,000. Waterfront Wealth Inc. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $1,430,000. AustralianSuper Pty Ltd raised its holdings in shares of Old Dominion Freight Line by 955.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after purchasing an additional 67,898 shares during the period. Summitry LLC raised its holdings in shares of Old Dominion Freight Line by 5.4% in the 4th quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock valued at $34,210,000 after purchasing an additional 11,223 shares during the period. Finally, Partners Group Holding AG lifted its stake in Old Dominion Freight Line by 37.0% in the 4th quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock valued at $30,518,000 after purchasing an additional 52,514 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 2.3%

Shares of NASDAQ ODFL opened at $216.36 on Friday. The firm has a market cap of $45.00 billion, a P/E ratio of 41.69, a price-to-earnings-growth ratio of 3.76 and a beta of 1.18. The business’s 50 day moving average is $226.40 and its 200-day moving average is $207.98. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research analyst reports. Zacks Research upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Rothschild & Co Redburn cut their price objective on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Argus upped their price objective on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $226.55.

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.