Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 67.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,432 shares of the transportation company’s stock after acquiring an additional 27,620 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Old Dominion Freight Line were worth $12,130,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $3,741,000. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $128,221,000. Toronto Dominion Bank boosted its position in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after acquiring an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $600,000. Finally, Reliant Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after acquiring an additional 2,060 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley boosted their target price 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. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup reduced their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $202.65.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $162.50 on Friday. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a 50 day simple moving average of $186.05 and a 200-day simple moving average of $195.33. Old Dominion Freight Line, Inc. has a 12-month low of $159.35 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 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. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Old Dominion Freight Line 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.