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

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 33.1% in the third quarter, HoldingsChannel reports. The fund owned 260,669 shares of the transportation company’s stock after buying an additional 64,869 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Old Dominion Freight Line were worth $45,315,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ODFL. Nykredit A S bought a new position in shares of Old Dominion Freight Line during the second quarter valued at about $16,333,000. Compass Financial Management LLC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $2,158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Old Dominion Freight Line by 14.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock valued at $241,367,000 after acquiring an additional 142,809 shares during the period. Daiichi Life Insurance Co. Ltd. purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at about $2,139,000. Finally, Moran Wealth Management LLC grew its position in Old Dominion Freight Line by 21.2% during the 1st quarter. Moran Wealth Management LLC now owns 42,544 shares of the transportation company’s stock worth $8,313,000 after acquiring an additional 7,431 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ODFL. Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $250.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday. Evercore reissued an “outperform” rating and set a $243.00 price objective (up from $237.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and issued a $190.00 target price on shares of Old Dominion Freight Line in a report on Thursday. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $250.00 to $232.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $244.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $218.00.

Key Headlines Impacting Old Dominion Freight Line

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 at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Trading Up 0.1%

Old Dominion Freight Line stock opened at $172.56 on Friday. The firm has a market cap of $35.78 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.82 and a beta of 1.20. 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 50-day moving average of $183.55 and a 200-day moving average of $201.46.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

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.