Healthcare of Ontario Pension Plan Trust Fund Purchases 36,144 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 256,092 shares of the transportation company’s stock after buying an additional 36,144 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of Old Dominion Freight Line worth $50,870,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC grew its stake in shares of Old Dominion Freight Line by 20.5% during the third quarter. Townsquare Capital LLC now owns 15,155 shares of the transportation company’s stock worth $3,010,000 after purchasing an additional 2,576 shares during the period. Baldwin Investment Management LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $212,000. Avestar Capital LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $223,000. Brooklyn Investment Group grew its stake in shares of Old Dominion Freight Line by 10.8% during the third quarter. Brooklyn Investment Group now owns 1,163 shares of the transportation company’s stock worth $231,000 after purchasing an additional 113 shares during the period. Finally, Partners Group Holding AG grew its stake in shares of Old Dominion Freight Line by 227.4% during the third quarter. Partners Group Holding AG now owns 116,954 shares of the transportation company’s stock worth $23,232,000 after purchasing an additional 81,230 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $224.11 on Thursday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The firm has a market cap of $47.85 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50-day moving average is $205.13 and its 200-day moving average is $193.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Old Dominion Freight Line’s revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.46%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ODFL shares. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Evercore ISI decreased their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Barclays boosted their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.41.

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.