Pensioenfonds Rail & OV Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pensioenfonds Rail & OV lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 162,337 shares of the transportation company’s stock after selling 2,511 shares during the quarter. Pensioenfonds Rail & OV’s holdings in Old Dominion Freight Line were worth $28,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in Old Dominion Freight Line by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after acquiring an additional 27 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in Old Dominion Freight Line by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock worth $1,858,000 after purchasing an additional 47 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. increased 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 valued at $27,000 after purchasing an additional 62 shares in the last quarter. Finally, Conning Inc. raised its holdings in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after buying an additional 64 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $194.75 on Wednesday. The stock has a market cap of $42.32 billion, a PE ratio of 34.29, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The firm has a fifty day moving average price of $196.31 and a 200-day moving average price of $194.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Stephens restated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Robert W. Baird lifted their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.83.

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.