Mirae Asset Global Investments Co. Ltd. Acquires 7,709 Shares of Old Dominion Freight Line, Inc. $ODFL

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,271 shares of the transportation company’s stock after purchasing an additional 7,709 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Old Dominion Freight Line were worth $11,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ODFL. Vanguard Group Inc. increased its position in Old Dominion Freight Line by 0.4% during the second quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock worth $3,693,663,000 after buying an additional 91,842 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Old Dominion Freight Line by 20.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock worth $474,292,000 after acquiring an additional 492,563 shares in the last quarter. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $371,961,000. Lazard Asset Management LLC increased its holdings in shares of Old Dominion Freight Line by 11.6% during the 2nd quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after acquiring an additional 200,681 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Old Dominion Freight Line by 9.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after acquiring an additional 137,068 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $173.20 on Friday. The firm’s 50-day moving average is $160.35 and its 200-day moving average is $150.53. The company has a market cap of $36.22 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 8.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business earned $1.43 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ODFL. Stifel Nicolaus upped their target price on Old Dominion Freight Line from $173.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Barclays set a $165.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Bank of America upped their price target on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Finally, Truist Financial raised their price target on Old Dominion Freight Line from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $163.33.

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.