Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Increased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 280.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,927 shares of the transportation company’s stock after buying an additional 5,844 shares during the quarter. 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.

Several other large investors have also bought and sold shares of the company. Seven Eight Capital LP raised its holdings in shares of Old Dominion Freight Line by 141.1% in the 1st quarter. Seven Eight Capital LP now owns 1,806 shares of the transportation company’s stock worth $396,000 after purchasing an additional 1,057 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Old Dominion Freight Line by 135.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,078 shares of the transportation company’s stock worth $456,000 after acquiring an additional 1,196 shares in the last quarter. Natixis grew its holdings in shares of Old Dominion Freight Line by 137.1% in the 1st quarter. Natixis now owns 3,794 shares of the transportation company’s stock worth $832,000 after acquiring an additional 2,194 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth $38,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 105.1% during the first quarter. Advisors Asset Management Inc. now owns 16,418 shares of the transportation company’s stock valued at $3,601,000 after purchasing an additional 8,412 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Evercore ISI cut their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets decreased their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $200.00.

Old Dominion Freight Line Stock Up 1.2 %

NASDAQ ODFL opened at $214.33 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The stock has a market capitalization of $45.76 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 4.43 and a beta of 0.99. The stock has a fifty day moving average of $202.73 and a 200-day moving average of $191.92.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $1.54 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.49%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Old Dominion Freight Line Company 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.