Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 6.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,054 shares of the transportation company’s stock after acquiring an additional 4,010 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Old Dominion Freight Line were worth $12,125,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ODFL. Value Partners Investments Inc. grew its holdings in Old Dominion Freight Line by 38.7% in the 4th quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock valued at $3,157,000 after buying an additional 5,610 shares in the last quarter. Waterfront Wealth Inc. purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $1,430,000. Baillie Gifford & Co. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $13,322,000. Quantum Capital Management LLC NJ boosted its position in shares of Old Dominion Freight Line by 26.2% during the 3rd quarter. Quantum Capital Management LLC NJ now owns 594,391 shares of the transportation company’s stock valued at $83,678,000 after acquiring an additional 123,271 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Old Dominion Freight Line by 955.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after purchasing an additional 67,898 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.
Insider Activity at Old Dominion Freight Line
In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 88,551 shares in the company, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.
Old Dominion Freight Line Price Performance
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last posted its quarterly 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 company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 EPS. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 earnings per share for the current fiscal year.
Old Dominion Freight Line Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s payout ratio is 24.27%.
Analysts Set New Price Targets
A number of brokerages have commented on ODFL. Evercore raised shares of Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a research note on Wednesday. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Wells Fargo & Company set a $235.00 price objective on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Friday, June 5th. Finally, JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $218.57.
View Our Latest Analysis on Old Dominion Freight Line
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.
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