National Pension Service Purchases 28,093 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

National Pension Service boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 271,366 shares of the transportation company’s stock after purchasing an additional 28,093 shares during the period. National Pension Service’s holdings in Old Dominion Freight Line were worth $53,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC boosted its stake in shares of Old Dominion Freight Line by 117.5% in the 1st quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock valued at $1,912,000 after purchasing an additional 4,709 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Old Dominion Freight Line by 98.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock valued at $2,926,000 after acquiring an additional 6,623 shares during the period. Choreo LLC lifted its position in Old Dominion Freight Line by 100.0% in the first quarter. Choreo LLC now owns 1,118 shares of the transportation company’s stock valued at $246,000 after purchasing an additional 559 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Old Dominion Freight Line by 107.1% during the first quarter. Nordea Investment Management AB now owns 13,716 shares of the transportation company’s stock valued at $3,003,000 after purchasing an additional 7,093 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Old Dominion Freight Line by 96.1% in the first quarter. Mutual of America Capital Management LLC now owns 27,410 shares of the transportation company’s stock worth $6,011,000 after purchasing an additional 13,431 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 46,975 shares of company stock worth $9,386,158 over the last three months. 9.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Susquehanna cut their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Evercore ISI lowered their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their target price on 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. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Trading Up 1.5 %

NASDAQ:ODFL opened at $207.01 on Wednesday. The stock has a market cap of $44.98 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 4.30 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $195.67 and its 200-day moving average price is $189.65. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is presently 18.18%.

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.