National Bank of Canada FI Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

National Bank of Canada FI grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 350.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,596 shares of the transportation company's stock after acquiring an additional 248,682 shares during the quarter. National Bank of Canada FI owned about 0.15% of Old Dominion Freight Line worth $63,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its stake in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after acquiring an additional 1,017 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Old Dominion Freight Line in the third quarter worth about $2,109,000. Kinsale Capital Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after purchasing an additional 3,614 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth about $30,745,000. Finally, Truist Financial Corp boosted its position in Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock valued at $18,754,000 after buying an additional 7,460 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. Argus lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Citigroup upped their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Robert W. Baird reduced their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average target price of $202.88.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company's stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Price Performance

ODFL stock traded up $0.03 during midday trading on Friday, reaching $203.00. The stock had a trading volume of 1,313,113 shares, compared to its average volume of 1,238,251. 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company's fifty day simple moving average is $208.18 and its 200 day simple moving average is $195.01. The company has a market cap of $43.34 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 4.41 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $1.54 earnings per share. Old Dominion Freight Line's quarterly revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line's payout ratio is 18.18%.

Old Dominion Freight Line Profile

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.