QV Investors Inc. Acquires Shares of 125,910 Old Dominion Freight Line, Inc. $ODFL

QV Investors Inc. acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, HoldingsChannel reports. The fund acquired 125,910 shares of the transportation company’s stock, valued at approximately $19,743,000. Old Dominion Freight Line comprises about 1.6% of QV Investors Inc.’s holdings, making the stock its 18th biggest holding.

Other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after buying an additional 123 shares during the last quarter. Westside Investment Management Inc. lifted its stake in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares during the period. Raiffeisen Bank International AG purchased a new stake in Old Dominion Freight Line in the third quarter worth $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in Old Dominion Freight Line in the third quarter worth $55,000. Finally, Zions Bancorporation National Association UT boosted its holdings in Old Dominion Freight Line by 273.5% in the third quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 320 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman owned 712,800 shares in the company, valued at $138,832,056. The trade was a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price objective on the stock. in a research report on Thursday, February 5th. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 12th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, March 4th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Raymond James Financial raised their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $191.13.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $198.00 on Friday. The firm has a market capitalization of $41.27 billion, a P/E ratio of 40.99, a P/E/G ratio of 4.18 and a beta of 1.20. The business has a fifty day simple moving average of $191.79 and a two-hundred day simple moving average of $163.41. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.