OMERS ADMINISTRATION Corp Acquires Shares of 11,165 Old Dominion Freight Line, Inc. $ODFL

OMERS ADMINISTRATION Corp acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,165 shares of the transportation company’s stock, valued at approximately $2,418,000.

A number of other large investors have also recently made changes to their positions in ODFL. Osmosis Investment Management UK Ltd purchased a new position in Old Dominion Freight Line in the second quarter worth about $1,102,000. Sanctuary Advisors LLC bought a new stake in Old Dominion Freight Line during the second quarter worth approximately $12,484,000. Solstein Capital LLC purchased a new stake in Old Dominion Freight Line during the second quarter valued at approximately $26,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Old Dominion Freight Line during the second quarter valued at approximately $12,865,000. Finally, First Nebraska Trust Co bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $423,000. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ODFL. The Goldman Sachs Group restated a “buy” rating and set a $244.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Wall Street Zen raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Evercore reiterated an “outperform” rating and set a $243.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Stock Performance

ODFL opened at $198.34 on Wednesday. The stock has a market cap of $41.13 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 3.50 and a beta of 1.18. The stock’s 50 day moving average price is $218.82 and its 200-day moving average price is $210.64. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $1.27 EPS. Old Dominion Freight Line’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.35%.

About Old Dominion Freight Line

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.