APG Asset Management N.V. Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

APG Asset Management N.V. increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 99,789 shares of the transportation company’s stock after purchasing an additional 20,141 shares during the period. APG Asset Management N.V.’s holdings in Old Dominion Freight Line were worth $16,443,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ODFL. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the second quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. boosted its stake in Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Atwood & Palmer Inc. grew its position in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the last quarter. Finally, Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $29,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ODFL shares. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $201.83.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Trading Up 0.7 %

NASDAQ:ODFL opened at $196.71 on Friday. The company has a market capitalization of $42.74 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The stock has a fifty day simple moving average of $196.22 and a 200-day simple moving average of $194.94. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

About Old Dominion Freight Line

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.