Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 49.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 164,848 shares of the transportation company’s stock after buying an additional 54,889 shares during the period. Old Dominion Freight Line makes up about 2.6% of Pensioenfonds Rail & OV’s portfolio, making the stock its 28th biggest holding. Pensioenfonds Rail & OV’s holdings in Old Dominion Freight Line were worth $36,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Old Dominion Freight Line in the 4th quarter worth $27,000. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $29,000. Headinvest LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ODFL shares. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Raymond James lowered their price objective on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price objective for the company. Baird R W raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price for the company in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $201.18.

Old Dominion Freight Line Trading Up 0.7 %

Shares of ODFL stock traded up $1.19 during trading hours on Wednesday, reaching $176.04. 1,440,225 shares of the stock traded hands, compared to its average volume of 1,583,176. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The business has a fifty day moving average price of $181.20 and a 200 day moving average price of $200.46. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $38.25 billion, a PE ratio of 31.17, a PEG ratio of 2.28 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

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.