Healthcare of Ontario Pension Plan Trust Fund Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 128.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,426 shares of the transportation company’s stock after purchasing an additional 8,110 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Old Dominion Freight Line were worth $5,847,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $27,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Headinvest LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $34,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 0.7 %

Shares of ODFL opened at $173.92 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line, Inc. has a one year low of $158.60 and a one year high of $227.80. The stock has a market capitalization of $37.79 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.23 and a beta of 1.02. The stock has a 50 day moving average price of $186.63 and a 200 day moving average price of $201.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 6.01 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. reduced their price target on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research report on Wednesday, May 8th. TD Cowen reduced their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company started coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $204.97.

Old Dominion Freight Line 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.