Caisse DE Depot ET Placement DU Quebec Sells 35,456 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Caisse DE Depot ET Placement DU Quebec decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 96.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,286 shares of the transportation company's stock after selling 35,456 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Old Dominion Freight Line were worth $255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ODFL. International Assets Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock valued at $136,130,000 after acquiring an additional 681,858 shares during the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in Old Dominion Freight Line in the second quarter worth $92,697,000. Renaissance Technologies LLC acquired a new stake in Old Dominion Freight Line in the second quarter worth $82,398,000. Bridges Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 136.0% during the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company's stock valued at $108,657,000 after buying an additional 354,588 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company's stock valued at $1,096,849,000 after buying an additional 270,538 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research report on Thursday, October 3rd. Bank of America dropped their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. Citigroup upped their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Benchmark reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Finally, TD Cowen decreased their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $201.94.

Old Dominion Freight Line Trading Down 3.5 %

Shares of Old Dominion Freight Line stock traded down $7.56 during trading on Wednesday, reaching $211.03. The company's stock had a trading volume of 2,008,130 shares, compared to its average volume of 1,532,199. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The company has a market cap of $45.05 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 4.70 and a beta of 1.00. The firm's 50-day moving average is $207.67 and its two-hundred day moving average is $194.54. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Old Dominion Freight Line's dividend payout ratio is 18.18%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company's stock.

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.