Old Dominion Freight Line, Inc. $ODFL Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 346.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 936,308 shares of the transportation company’s stock after purchasing an additional 726,576 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Old Dominion Freight Line were worth $146,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. DT Investment Partners LLC grew its position in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after purchasing an additional 180 shares during the period. Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $37,000. Torren Management LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $41,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $55,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Raymond James Financial restated an “outperform” rating and set a $224.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Stephens restated an “overweight” rating and set a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Finally, UBS Group raised their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $215.43.

Old Dominion Freight Line Price Performance

ODFL opened at $245.75 on Friday. The company’s 50 day simple moving average is $215.16 and its two-hundred day simple moving average is $189.53. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 4.97 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Insider Activity

In other news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is owned by corporate insiders.

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.