VIRGINIA RETIREMENT SYSTEMS ET Al Buys 64,869 Shares of Old Dominion Freight Line, Inc. $ODFL

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 33.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 260,669 shares of the transportation company’s stock after purchasing an additional 64,869 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.13% of Old Dominion Freight Line worth $45,315,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Bell Investment Advisors Inc bought a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $25,000. Solstein Capital LLC purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Evolution Wealth Management Inc. bought a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $29,000. Finally, EFG International AG bought a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $29,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $172.56 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The firm has a market cap of $35.78 billion, a PE ratio of 31.04, a PEG ratio of 2.82 and a beta of 1.20. The company has a 50 day simple moving average of $183.55 and a two-hundred day simple moving average of $201.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.92 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be given a $0.29 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s payout ratio is 22.35%.

Wall Street Analyst Weigh In

ODFL has been the subject of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday. Bank of America lowered their target price on shares of Old Dominion Freight Line from $240.00 to $205.00 in a research note on Friday, September 4th. Wall Street Zen downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Sunday, October 25th. Wells Fargo & Company cut their price target on shares of Old Dominion Freight Line from $250.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $250.00 to $232.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $218.00.

Key Old Dominion Freight Line News

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Old Dominion reported third-quarter revenue of $1.59 billion, up 13.1% year over year, while earnings of $1.65 per share exceeded the $1.61 analyst consensus. Its operating ratio improved 280 basis points to 71.5%, demonstrating strong cost control and operating efficiency. Old Dominion: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts still see meaningful upside from the current level. Wells Fargo, Stifel Nicolaus and Raymond James maintain bullish views, with targets of $220, $224 and $210, respectively, although each firm reduced its target. Raymond James Lowers Old Dominion Price Target
• Neutral Sentiment: UBS lowered its price target from $228 to $194 and kept a neutral rating, while TD Cowen cut its target from $233 to $226 and maintained a hold rating. The revisions imply analysts remain constructive on long-term value but have reduced estimates for near-term conditions. Analyst Price Target Changes
• Negative Sentiment: Management expects fourth-quarter revenue of $1.54 billion to $1.58 billion, below third-quarter revenue, and is targeting a higher 73.5% operating ratio. Elevated fuel and health-care costs are expected to pressure margins. Old Dominion Fourth-Quarter Outlook
• Negative Sentiment: CEO Marty Freeman said freight demand remains sluggish and indicated that a potential Russian diesel deal would not materially improve the company’s fuel situation. The comments reinforce concerns about soft shipping volumes and limited relief from fuel costs. Russian Diesel Deal Will Not Make a Difference
• Negative Sentiment: The combination of a cautious fourth-quarter outlook, cost inflation and widespread analyst target reductions has fueled debate over whether the strong third-quarter margin performance can continue.

Insider Buying and Selling

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.