Public Sector Pension Investment Board Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Public Sector Pension Investment Board increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 62.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,266 shares of the transportation company’s stock after purchasing an additional 2,800 shares during the period. Public Sector Pension Investment Board’s holdings in Old Dominion Freight Line were worth $1,443,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Old Dominion Freight Line by 4.6% during the 2nd 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 purchasing an additional 270,538 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after purchasing an additional 57,301 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Old Dominion Freight Line by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after buying an additional 78,587 shares during the period. Dimensional Fund Advisors LP boosted its position in Old Dominion Freight Line by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock valued at $182,444,000 after buying an additional 86,427 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Old Dominion Freight Line by 39.1% in the 2nd quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock valued at $123,294,000 after buying an additional 196,350 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ODFL shares. Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday. Citigroup boosted their price objective 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. Robert W. Baird lowered their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Finally, TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $202.88.

Old Dominion Freight Line Trading Up 0.0 %

NASDAQ ODFL opened at $203.00 on Friday. 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 cap of $43.34 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 4.57 and a beta of 1.00. The company has a 50 day moving average price of $208.18 and a 200 day moving average price of $194.88. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. 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 business posted $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, 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 transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the company’s 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 in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company 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.