Old Dominion Freight Line, Inc. $ODFL Shares Bought by Markel Group Inc.

Markel Group Inc. grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,150 shares of the transportation company’s stock after buying an additional 7,500 shares during the period. Markel Group Inc.’s holdings in Old Dominion Freight Line were worth $83,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. Empowered Funds LLC increased its stake in Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after acquiring an additional 5,866 shares during the last quarter. Marshall Wace LLP acquired a new stake in Old Dominion Freight Line during the second quarter worth $7,478,000. Jump Financial LLC acquired a new stake in Old Dominion Freight Line during the second quarter worth $2,891,000. Finally, AXA S.A. raised its position in Old Dominion Freight Line by 1.2% in the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock valued at $3,287,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ODFL. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Robert W. Baird set a $229.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group increased their target price on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Tuesday, June 9th. Ten investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $220.00.

Old Dominion Freight Line Stock Up 0.8%

NASDAQ:ODFL traded up $1.78 on Friday, reaching $227.63. 2,215,670 shares of the company’s stock were exchanged, compared to its average volume of 1,661,880. The firm has a market capitalization of $47.34 billion, a price-to-earnings ratio of 47.62, a price-to-earnings-growth ratio of 4.16 and a beta of 1.18. The business has a fifty day moving average of $218.73 and a 200-day moving average of $199.62. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.5 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 10.00% of the stock is currently owned by company insiders.

About Old Dominion Freight Line

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.