Fjarde AP Fonden Fourth Swedish National Pension Fund Has $23.76 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% during the first quarter, Holdings Channel reports. 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’s holdings in Old Dominion Freight Line were worth $23,758,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Brighton Jones LLC lifted its stake in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares during the last quarter. Empowered Funds LLC grew its stake in Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 5,866 shares during the last quarter. Marshall Wace LLP bought a new position in Old Dominion Freight Line in the 2nd quarter worth $7,478,000. Jump Financial LLC acquired a new position in Old Dominion Freight Line during the 2nd quarter worth $2,891,000. Finally, AXA S.A. lifted its position in Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after acquiring an additional 238 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction on Monday, May 4th. The stock was 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 directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ODFL shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $224.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Stifel Nicolaus raised their target price on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Wells Fargo & Company set a $235.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Friday, June 5th. Finally, Evercore upgraded Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $218.57.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $217.65 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03. The firm has a market cap of $45.26 billion, a P/E ratio of 45.53, a P/E/G ratio of 4.36 and a beta of 1.18. The business’s 50 day moving average is $218.55 and its 200-day moving average is $197.40.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The business 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%.Old Dominion Freight Line’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.44 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.

Old Dominion Freight Line 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.