Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 44.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,362 shares of the transportation company’s stock after selling 14,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Old Dominion Freight Line were worth $3,239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ODFL. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $41,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $64,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ODFL. Morgan Stanley upped their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Bank of America decreased their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Citigroup lifted their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $203.72.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $179.88 on Wednesday. The business has a 50-day simple moving average of $188.24 and a 200-day simple moving average of $197.64. The company has a market cap of $38.40 billion, a PE ratio of 32.82, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is 18.98%.

About Old Dominion Freight Line

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.