National Pension Service Has $57.68 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

National Pension Service trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,283 shares of the transportation company’s stock after selling 37,679 shares during the period. National Pension Service’s holdings in Old Dominion Freight Line were worth $57,677,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new stake in Old Dominion Freight Line in the second quarter valued at approximately $25,000. Solstein Capital LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Reflection Asset Management bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth $28,000. Finally, Evolution Wealth Management Inc. acquired a new stake in Old Dominion Freight Line in the 1st quarter valued at $29,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.4%

ODFL stock opened at $179.79 on Friday. The firm has a market cap of $37.28 billion, a PE ratio of 34.64, a P/E/G ratio of 3.03 and a beta of 1.16. The business has a 50 day moving average of $211.11 and a 200-day moving average of $209.96. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is 22.35%.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. Weiss Ratings downgraded shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Sanford C. Bernstein assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday. They set a “market perform” rating and a $200.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $244.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a research note on Wednesday, July 29th. Zacks Research raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Finally, Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $231.00 to $223.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $227.65.

Insiders Place Their Bets

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the sale, the senior vice president owned 22,746 shares in the company, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in less-than-truckload (LTL) freight services. The company transports shipments that do not require a full trailer, consolidating freight from multiple customers and providing regional, inter-regional and nationwide service.

Its service offerings include expedited transportation, truckload brokerage, container drayage, warehousing and supply chain consulting. Old Dominion operates a network of service centers and transportation facilities designed to support pickup and delivery, freight handling and distribution throughout the contiguous United States, with additional cross-border service to Canada and Mexico.

Founded in 1934 by Earl and Lillian Congdon, the company is headquartered in Thomasville, North Carolina.