Canada Pension Plan Investment Board Sells 43,494 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Canada Pension Plan Investment Board lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 173,184 shares of the transportation company's stock after selling 43,494 shares during the period. Canada Pension Plan Investment Board owned approximately 0.08% of Old Dominion Freight Line worth $30,550,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth $35,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Versant Capital Management Inc raised its position in 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 valued at $62,000 after purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $69,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Up 0.8 %

Shares of ODFL traded up $1.16 on Wednesday, reaching $153.23. The company's stock had a trading volume of 3,069,693 shares, compared to its average volume of 1,684,045. The stock has a market capitalization of $32.57 billion, a PE ratio of 27.96, a PEG ratio of 2.89 and a beta of 1.25. 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, Inc. has a twelve month low of $145.79 and a twelve month high of $233.26. The firm has a fifty day moving average of $168.63 and a 200-day moving average of $188.41.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.73%. Old Dominion Freight Line's dividend payout ratio (DPR) is 20.44%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ODFL. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Raymond James cut their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Barclays cut their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Finally, StockNews.com lowered Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $195.15.

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.