Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Increased by Forsta AP Fonden

Forsta AP Fonden raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 39,700 shares of the transportation company’s stock after purchasing an additional 4,400 shares during the quarter. Forsta AP Fonden’s holdings in Old Dominion Freight Line were worth $7,886,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 100.9% during the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the period. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock worth $242,021,000 after buying an additional 815,817 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated 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 owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Up 3.1 %

ODFL stock opened at $197.79 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $42.98 billion, a PE ratio of 34.82, a PEG ratio of 4.20 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 company has a fifty day simple moving average of $195.53 and a 200 day simple moving average of $190.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analyst Weigh In

ODFL has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price 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. Morgan Stanley lowered their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Susquehanna reduced their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a report on Thursday. Evercore ISI lowered their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Finally, Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Profile

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.