PensionDanmark Pensionsforsikringsaktieselskab Acquires 2,900 Shares of Old Dominion Freight Line, Inc. $ODFL

PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,456 shares of the transportation company’s stock after buying an additional 2,900 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Old Dominion Freight Line were worth $6,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $444,983,000. Boston Partners bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $292,599,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Old Dominion Freight Line by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock worth $2,230,318,000 after purchasing an additional 1,761,511 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Old Dominion Freight Line by 637.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after purchasing an additional 1,362,697 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $188,651,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Up 2.3%

Shares of ODFL stock opened at $216.36 on Friday. The business has a fifty day simple moving average of $226.40 and a 200 day simple moving average of $207.98. The company has a market cap of $45.00 billion, a P/E ratio of 41.69, a P/E/G ratio of 3.76 and a beta of 1.18. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line’s payout ratio is 22.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stifel Nicolaus set a $263.00 price target on Old Dominion Freight Line and gave the company a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a “hold” rating and set a $227.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and issued a $241.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. The Goldman Sachs Group restated a “buy” rating and issued a $244.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Finally, Citigroup reaffirmed a “neutral” rating and set a $231.00 price target (up from $228.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Company Profile

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.