Old Dominion Freight Line, Inc. $ODFL Shares Acquired by National Pension Service

National Pension Service grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,637 shares of the transportation company’s stock after buying an additional 19,028 shares during the quarter. National Pension Service’s holdings in Old Dominion Freight Line were worth $46,356,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ODFL. Boston Partners acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $292,599,000. Two Sigma Investments LP lifted its holdings in shares of Old Dominion Freight Line by 637.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after buying an additional 1,362,697 shares during the period. Life Cycle Investment Partners Ltd acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $188,651,000. CIBC Private Wealth Group LLC raised its holdings in Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after purchasing an additional 622,275 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $225.15 on Monday. The stock has a fifty day moving average of $204.81 and a two-hundred day moving average of $182.32. The company has a market capitalization of $46.82 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 4.61 and a beta of 1.17. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. The company 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Truist Financial set a $225.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating and set a $224.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, April 30th. TD Cowen reaffirmed a “hold” rating and set a $194.00 price objective (up from $180.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $206.29.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Company 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.