Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Old Dominion Freight Line, Inc. $ODFL

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 40.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,226 shares of the transportation company’s stock after selling 380,082 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.27% of Old Dominion Freight Line worth $108,687,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $13,322,000. Waterfront Wealth Inc. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $1,430,000. AustralianSuper Pty Ltd raised its holdings in shares of Old Dominion Freight Line by 955.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after purchasing an additional 67,898 shares in the last quarter. Summitry LLC lifted its position in shares of Old Dominion Freight Line by 5.4% during the 4th quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock worth $34,210,000 after purchasing an additional 11,223 shares during the last quarter. Finally, Partners Group Holding AG lifted its position in shares of Old Dominion Freight Line by 37.0% during the 4th quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock worth $30,518,000 after purchasing an additional 52,514 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup raised Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 target price on the stock in a report on Thursday, July 9th. Argus lifted their price target on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Wells Fargo & Company upgraded Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. Finally, UBS Group raised their target price on Old Dominion Freight Line from $216.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $223.04.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% 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 hyperlink. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $232.99 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company has a market capitalization of $48.45 billion, a PE ratio of 48.74, a P/E/G ratio of 4.16 and a beta of 1.18. The company has a fifty day moving average of $225.49 and a two-hundred day moving average of $204.77.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $1.19 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s payout ratio is 24.27%.

Old Dominion Freight Line 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.