National Pension Service Sells 5,100 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

National Pension Service lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 3.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 133,336 shares of the transportation company’s stock after selling 5,100 shares during the period. National Pension Service’s holdings in Old Dominion Freight Line were worth $33,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CoreCap Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $29,000. Guardian Wealth Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. grew its holdings in shares of Old Dominion Freight Line by 145.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 177 shares of the transportation company’s stock worth $44,000 after purchasing an additional 105 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Old Dominion Freight Line by 56.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company’s stock worth $52,000 after purchasing an additional 63 shares during the last quarter. Finally, Alta Advisers Ltd bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $75,000. Institutional investors own 73.08% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of several analyst reports. Raymond James upped their target price on shares of Old Dominion Freight Line from $335.00 to $395.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Stephens upped their price target on shares of Old Dominion Freight Line from $340.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Old Dominion Freight Line from $290.00 to $396.00 and gave the stock a “hold” rating in a research report on Thursday, February 2nd. StockNews.com initiated coverage on shares of Old Dominion Freight Line in a research report on Thursday. They set a “hold” rating on the stock. Finally, KeyCorp upped their target price on shares of Old Dominion Freight Line from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $342.32.

Insider Buying and Selling

In other news, SVP David J. Bates sold 1,208 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $344.71, for a total transaction of $416,409.68. Following the completion of the transaction, the senior vice president now directly owns 14,082 shares of the company’s stock, valued at approximately $4,854,206.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Bradley R. Gabosch sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $358.21, for a total transaction of $967,167.00. Following the completion of the transaction, the director now directly owns 5,818 shares of the company’s stock, valued at approximately $2,084,065.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David J. Bates sold 1,208 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $344.71, for a total transaction of $416,409.68. Following the transaction, the senior vice president now directly owns 14,082 shares of the company’s stock, valued at $4,854,206.22. The disclosure for this sale can be found here. 10.30% of the stock is owned by company insiders.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $337.51 on Friday. The business has a 50 day simple moving average of $337.18 and a 200 day simple moving average of $298.80. Old Dominion Freight Line, Inc. has a 52-week low of $231.31 and a 52-week high of $381.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $37.14 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.25 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its earnings results on Wednesday, February 1st. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.24. Old Dominion Freight Line had a return on equity of 38.60% and a net margin of 22.00%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $2.41 EPS. Old Dominion Freight Line’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line, Inc. will post 12.12 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 28th. Old Dominion Freight Line’s dividend payout ratio is presently 13.14%.

Old Dominion Freight Line Profile

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Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.