Canada Post Corp Registered Pension Plan Purchases Shares of 3,040 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Canada Post Corp Registered Pension Plan bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,040 shares of the transportation company's stock, valued at approximately $536,000.

A number of other institutional investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $1,718,000. Synovus Financial Corp lifted its holdings in Old Dominion Freight Line by 2.4% during the 3rd quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company's stock worth $866,000 after buying an additional 101 shares in the last quarter. Franklin Resources Inc. boosted its position in Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock valued at $207,068,000 after buying an additional 437,700 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $16,691,000. Finally, Retirement Systems of Alabama raised its position in shares of Old Dominion Freight Line by 5.2% during the third quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company's stock worth $8,213,000 after acquiring an additional 2,044 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ODFL. Barclays lowered their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Truist Financial began coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They set a "buy" rating and a $220.00 price target for the company. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Bank of America dropped their price objective 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. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus price target of $195.15.

Old Dominion Freight Line Stock Down 3.5 %

ODFL stock traded down $5.39 during mid-day trading on Monday, reaching $148.36. The company had a trading volume of 273,108 shares, compared to its average volume of 1,669,489. The company has a market capitalization of $31.53 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52 week low of $145.79 and a 52 week high of $233.26. The stock has a 50 day simple moving average of $170.78 and a two-hundred day simple moving average of $188.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is 20.44%.

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.