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

Ontario Teachers Pension Plan Board increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 151.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,926 shares of the transportation company's stock after buying an additional 11,999 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Old Dominion Freight Line were worth $3,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Hantz Financial Services Inc. boosted its holdings in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. raised its position in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after buying an additional 55 shares in the last quarter. Evergreen Private Wealth LLC raised its position in Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after purchasing an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after buying an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in Old Dominion Freight Line by 0.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock worth $1,668,000 after buying an additional 62 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ODFL shares. Stephens restated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Susquehanna reduced their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their target price for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Truist Financial began coverage on 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. Finally, StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $195.15.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded up $5.90 during mid-day trading on Friday, reaching $153.75. 1,456,518 shares of the company traded hands, compared to its average volume of 1,674,886. The firm's fifty day moving average is $170.78 and its two-hundred day moving average is $188.98. The company has a market capitalization of $32.68 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a fifty-two week low of $145.79 and a fifty-two week high of $233.26. 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 announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, equities research analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. Old Dominion Freight Line's payout ratio is currently 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.