Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 44.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,362 shares of the transportation company’s stock after selling 14,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Old Dominion Freight Line were worth $3,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $45,000. Brown Brothers Harriman & Co. raised its stake in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in Old Dominion Freight Line in the 3rd quarter valued at $64,000. 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 $179.88 on Wednesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a market capitalization of $38.40 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.89 and a beta of 1.05. The stock has a fifty day moving average of $188.24 and a two-hundred day moving average of $197.64. 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 announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. 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. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ODFL. Citigroup upped their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Morgan Stanley lifted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Jefferies Financial Group lifted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $203.72.

About Old Dominion Freight Line

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.