Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.9% during the first quarter, HoldingsChannel.com reports. The firm owned 62,054 shares of the transportation company’s stock after purchasing an additional 4,010 shares during the period. 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.

A number of other large investors have also made changes to their positions in ODFL. Reflection Asset Management purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $28,000. DT Investment Partners LLC boosted its stake in shares of Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares in the last quarter. DV Equities LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $40,000. Torren Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of research analyst reports. Evercore upgraded Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a research report on Wednesday. Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Rothschild & Co Redburn dropped their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Finally, Wolfe Research lifted their target price on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $218.57.

Old Dominion Freight Line Price Performance

ODFL opened at $217.96 on Thursday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The business has a 50-day moving average of $218.73 and a two-hundred day moving average of $196.84. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm posted $1.19 earnings per share. Old Dominion Freight Line’s revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’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 value of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by insiders.

About Old Dominion Freight Line

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.