Healthcare of Ontario Pension Plan Trust Fund Has $50.87 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Healthcare of Ontario Pension Plan Trust Fund grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 256,092 shares of the transportation company’s stock after purchasing an additional 36,144 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Old Dominion Freight Line were worth $50,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Old Dominion Freight Line during the third quarter worth $2,109,000. Kinsale Capital Group Inc. lifted its stake in Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock worth $4,627,000 after purchasing an additional 3,614 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Old Dominion Freight Line during the third quarter worth $30,745,000. Finally, Truist Financial Corp lifted its stake in Old Dominion Freight Line by 7.6% during the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after purchasing an additional 7,460 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

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

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $224.11 on Thursday. 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 has a 50-day moving average of $205.13 and a 200-day moving average of $193.10. The company has a market cap of $47.85 billion, a PE ratio of 39.18, a P/E/G ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26.

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

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Citigroup raised their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. BMO Capital Markets lowered their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $200.41.

About Old Dominion Freight Line

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.