Avanza Fonder AB Grows Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Avanza Fonder AB boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 47.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,176 shares of the transportation company’s stock after purchasing an additional 8,129 shares during the quarter. Avanza Fonder AB’s holdings in Old Dominion Freight Line were worth $3,948,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after purchasing an additional 5,866 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Old Dominion Freight Line by 4.9% in the 2nd quarter. Cetera Investment Advisers now owns 28,289 shares of the transportation company’s stock worth $4,591,000 after purchasing an additional 1,320 shares in the last quarter. American Century Companies Inc. increased its position in shares of Old Dominion Freight Line by 16.9% during the 2nd quarter. American Century Companies Inc. now owns 337,612 shares of the transportation company’s stock valued at $54,794,000 after purchasing an additional 48,908 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 0.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,310,719 shares of the transportation company’s stock valued at $212,730,000 after purchasing an additional 3,338 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the transaction, the director directly owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the transaction, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 80,134 shares of company stock worth $15,640,132 over the last quarter. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $166.00 to $204.00 in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 target price for the company. in a report on Thursday, February 5th. Rothschild & Co Redburn raised their price target on Old Dominion Freight Line from $114.00 to $176.00 and gave the stock a “sell” rating in a research report on Friday, February 6th. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $191.08.

Old Dominion Freight Line Price Performance

ODFL opened at $185.03 on Wednesday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63. The business has a 50 day simple moving average of $188.95 and a two-hundred day simple moving average of $160.95. The firm has a market capitalization of $38.57 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 3.94 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $1.23 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.02%.

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.