879,764 Shares in Old Dominion Freight Line, Inc. $ODFL Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, HoldingsChannel.com reports. The firm bought 879,764 shares of the transportation company’s stock, valued at approximately $190,557,000.

Several other institutional investors have also made changes to their positions in ODFL. AustralianSuper Pty Ltd boosted its holdings in shares of Old Dominion Freight Line by 955.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after purchasing an additional 67,898 shares in the last quarter. Summitry LLC increased its stake in shares of Old Dominion Freight Line by 5.4% in the fourth quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock valued at $34,210,000 after buying an additional 11,223 shares during the period. Partners Group Holding AG raised its stake in shares of Old Dominion Freight Line by 37.0% during the fourth quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock valued at $30,518,000 after acquiring an additional 52,514 shares during the last quarter. M&T Bank Corp raised its position in Old Dominion Freight Line by 76.3% during the 4th quarter. M&T Bank Corp now owns 15,204 shares of the transportation company’s stock worth $2,384,000 after purchasing an additional 6,582 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Old Dominion Freight Line by 15,188.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 407,885 shares of the transportation company’s stock worth $63,956,000 after acquiring an additional 405,217 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Up 0.5%

Old Dominion Freight Line stock opened at $199.43 on Thursday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The firm’s fifty day moving average is $218.44 and its 200 day moving average is $210.62. The company has a market capitalization of $41.35 billion, a PE ratio of 38.43, a PEG ratio of 3.45 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the company posted $1.27 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is presently 22.35%.

Insider Buying and Selling

In related news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several analyst reports. Susquehanna upped their target price on Old Dominion Freight Line from $224.00 to $228.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Zacks Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Citigroup restated a “neutral” rating and issued a $231.00 price target (up from $228.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Stephens reiterated an “overweight” rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $227.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.