CANADA LIFE ASSURANCE Co Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

CANADA LIFE ASSURANCE Co raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 138.3% during the first quarter, Holdings Channel.com reports. The firm owned 161,020 shares of the transportation company’s stock after purchasing an additional 93,460 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Old Dominion Freight Line were worth $35,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after acquiring an additional 2,888,205 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Old Dominion Freight Line by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after acquiring an additional 12,016 shares during the period. Finally, WCM Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 95.9% during the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock valued at $435,593,000 after acquiring an additional 972,531 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley cut their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company began coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They set an “underweight” rating and a $175.00 price objective for the company. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday. Finally, UBS Group upped their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $201.55.

Old Dominion Freight Line Trading Up 6.0 %

NASDAQ ODFL traded up $11.75 on Thursday, hitting $206.37. 1,796,788 shares of the stock were exchanged, compared to its average volume of 1,612,529. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 36.61, a P/E/G ratio of 2.55 and a beta of 1.00. The company’s 50-day moving average price is $179.40 and its two-hundred day moving average price is $198.68.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $1.33 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.9 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

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.