Ontario Teachers Pension Plan Board Sells 1,853 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ontario Teachers Pension Plan Board lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 55.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,465 shares of the transportation company’s stock after selling 1,853 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Old Dominion Freight Line were worth $594,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after acquiring an additional 251,289 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Old Dominion Freight Line by 1.3% in the 3rd quarter. Invesco Ltd. now owns 1,397,382 shares of the transportation company’s stock valued at $571,725,000 after acquiring an additional 18,418 shares in the last quarter. Norges Bank bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $495,387,000. Northern Trust Corp grew its holdings in shares of Old Dominion Freight Line by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,015,481 shares of the transportation company’s stock valued at $415,474,000 after acquiring an additional 52,963 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Old Dominion Freight Line by 7.7% in the 3rd quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock valued at $393,397,000 after acquiring an additional 68,960 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen decreased their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price for the company in a research note on Wednesday, May 8th. Barclays cut their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Susquehanna raised their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $209.08.

Old Dominion Freight Line Trading Up 0.9 %

Shares of ODFL stock opened at $173.06 on Friday. The firm has a 50 day moving average price of $205.50 and a two-hundred day moving average price of $204.12. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $37.60 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Old Dominion Freight Line, Inc. has a 12-month low of $149.00 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 6.02 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

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.