Partners Group Holding AG Purchases 81,230 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Partners Group Holding AG boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 227.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,954 shares of the transportation company's stock after purchasing an additional 81,230 shares during the quarter. Old Dominion Freight Line makes up 1.6% of Partners Group Holding AG's portfolio, making the stock its 26th biggest holding. Partners Group Holding AG owned 0.05% of Old Dominion Freight Line worth $23,232,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Old Dominion Freight Line by 0.4% during the third quarter. Bank of Montreal Can now owns 296,448 shares of the transportation company's stock valued at $58,314,000 after acquiring an additional 1,178 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after purchasing an additional 215 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth about $371,000. Harvest Fund Management Co. Ltd raised its position in shares of Old Dominion Freight Line by 50.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 9,875 shares of the transportation company's stock valued at $1,962,000 after buying an additional 3,300 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Old Dominion Freight Line by 54.6% during the third quarter. Daiwa Securities Group Inc. now owns 61,140 shares of the transportation company's stock valued at $12,145,000 after buying an additional 21,590 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares of the company's stock, valued at approximately $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $4,028,510 in the last three months. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded up $0.86 on Tuesday, hitting $225.97. The company had a trading volume of 1,069,751 shares, compared to its average volume of 1,537,499. The company's fifty day moving average price is $204.50 and its 200-day moving average price is $192.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $48.24 billion, a PE ratio of 39.51, a PEG ratio of 4.61 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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 given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line's payout ratio is 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent research reports. Stephens restated an "overweight" rating and set a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating for the company in a report on Thursday, October 3rd. Susquehanna reduced their price objective on Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen cut their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen 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, the company currently has an average rating of "Hold" and a consensus target price of $200.00.

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.