Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 280.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,927 shares of the transportation company's stock after buying an additional 5,844 shares during the period. Ontario Teachers Pension Plan Board's holdings in Old Dominion Freight Line were worth $1,575,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company's stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company's stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Old Dominion Freight Line by 283.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company's stock valued at $242,021,000 after buying an additional 815,817 shares in the last quarter. International Assets Investment Management LLC raised its holdings 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 period. Finally, Bristol Gate Capital Partners Inc. purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $92,697,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Raymond James raised their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Stifel Nicolaus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating and lowered their price target for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Citigroup increased their price objective 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. Finally, Barclays lifted their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $200.00.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred 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 transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Stock Up 2.2 %

Shares of ODFL stock traded up $4.75 during mid-day trading on Thursday, hitting $219.08. The company's stock had a trading volume of 281,509 shares, compared to its average volume of 1,537,202. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 4.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50-day moving average price of $202.73 and a 200 day moving average price of $191.92. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued 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. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The company's revenue for the quarter was down 3.0% on a year-over-year basis. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's payout ratio is presently 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.