National Pension Service Purchases 7,676 Shares of Old Dominion Freight Line, Inc. $ODFL

National Pension Service increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,609 shares of the transportation company’s stock after buying an additional 7,676 shares during the quarter. National Pension Service owned 0.13% of Old Dominion Freight Line worth $38,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ODFL. Norges Bank bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $371,961,000. First Trust Advisors LP lifted its stake in Old Dominion Freight Line by 63.8% in the second quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company’s stock worth $246,867,000 after purchasing an additional 592,605 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 20.3% during the second quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock valued at $474,292,000 after buying an additional 492,563 shares during the period. Fisher Funds Management LTD bought a new position in shares of Old Dominion Freight Line during the third quarter valued at about $65,951,000. Finally, Citigroup Inc. increased its holdings in shares of Old Dominion Freight Line by 149.5% in the second quarter. Citigroup Inc. now owns 710,786 shares of the transportation company’s stock worth $115,360,000 after buying an additional 425,846 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $186.13 on Tuesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61. The stock has a market cap of $38.92 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 8.61 and a beta of 1.28. The stock’s 50 day simple moving average is $161.43 and its two-hundred day simple moving average is $150.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ODFL shares. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $172.00 to $170.00 in a report on Monday, December 1st. Stephens reissued an “overweight” rating and set a $190.00 price objective on shares of Old Dominion Freight Line in a research note on Tuesday, January 6th. Truist Financial lifted their target price on shares of Old Dominion Freight Line from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Barclays set a $165.00 price target on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Finally, Stifel Nicolaus boosted their price objective on shares of Old Dominion Freight Line from $173.00 to $188.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $163.33.

Old Dominion Freight Line 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.