Caisse DE Depot ET Placement DU Quebec Sells 35,456 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Caisse DE Depot ET Placement DU Quebec lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 96.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,286 shares of the transportation company’s stock after selling 35,456 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Old Dominion Freight Line were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after purchasing an additional 681,858 shares during the period. Bristol Gate Capital Partners Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at about $92,697,000. Renaissance Technologies LLC bought a new position in Old Dominion Freight Line in the 2nd quarter valued at about $82,398,000. Bridges Investment Management Inc. lifted its position in Old Dominion Freight Line by 136.0% during the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock worth $108,657,000 after acquiring an additional 354,588 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after acquiring an additional 270,538 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Evercore ISI decreased their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.41.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $218.59 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $46.67 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock’s 50-day simple moving average is $207.26 and its 200 day simple moving average is $194.29.

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

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

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.