Old Dominion Freight Line, Inc. $ODFL Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,652 shares of the transportation company’s stock after purchasing an additional 3,309 shares during the quarter. Handelsbanken Fonder AB owned about 0.05% of Old Dominion Freight Line worth $18,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. Nuveen LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $151,107,000. JPMorgan Chase & Co. lifted its stake in Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after purchasing an additional 754,796 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Old Dominion Freight Line by 149.5% in the second quarter. Citigroup Inc. now owns 710,786 shares of the transportation company’s stock valued at $115,360,000 after buying an additional 425,846 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after acquiring an additional 416,097 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the topic of a number of recent research reports. UBS Group lifted their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $159.00 to $154.00 in a research report on Thursday, October 30th. Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating on the stock in a research report on Tuesday, October 28th. Susquehanna raised their target price on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Barclays reduced their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $159.33.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $134.28 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $28.08 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $228.72. The company has a 50 day moving average price of $138.41 and a two-hundred day moving average price of $151.70.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $1.43 EPS. Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

Old Dominion Freight Line Company 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.