Handelsbanken Fonder AB Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Handelsbanken Fonder AB grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,487 shares of the transportation company’s stock after acquiring an additional 11,715 shares during the period. Handelsbanken Fonder AB owned about 0.06% of Old Dominion Freight Line worth $20,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Avanza Fonder AB purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $3,741,000. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $128,221,000. Toronto Dominion Bank increased its holdings in shares of Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after purchasing an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $600,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after purchasing an additional 1,017 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 8.5 %

ODFL opened at $180.40 on Friday. The stock has a market cap of $38.52 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 3.01 and a beta of 1.05. The stock’s 50 day moving average price is $188.96 and its 200-day moving average price is $197.81. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the topic of several research reports. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Morgan Stanley lifted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays reduced their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.