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 - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 879,764 shares of the transportation company's stock, valued at approximately $190,557,000. Caisse de depot et placement du Quebec owned about 0.42% of Old Dominion Freight Line as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC grew its stake in shares of Old Dominion Freight Line by 9.9% during the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company's stock worth $100,000 after acquiring an additional 46 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Old Dominion Freight Line by 1.3% in the first quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company's stock worth $814,000 after purchasing an additional 55 shares in the last quarter. Keybank National Association OH boosted its holdings in Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company's stock worth $479,000 after purchasing an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Old Dominion Freight Line by 9.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company's stock valued at $101,000 after purchasing an additional 57 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $199.43 on Thursday. The company's 50-day moving average is $218.44 and its 200-day moving average is $210.62. The firm has a market capitalization of $41.35 billion, a PE ratio of 38.43, a P/E/G ratio of 3.45 and a beta of 1.18. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.54 billion. During the same period last year, the business posted $1.27 EPS. Old Dominion Freight Line's revenue was up 10.4% on a year-over-year basis. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 22.35%.

Insider Activity

In other news, SVP Cecil E. Jr. Overbey sold 19,952 shares of Old Dominion Freight Line 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 completion of the transaction, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $244.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Wells Fargo & Company upgraded Old Dominion Freight Line from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. Rothschild & Co Redburn lowered their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a "sell" rating on the stock in a research report on Tuesday, May 12th. Evercore reiterated an "outperform" rating and set a $243.00 target price on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Finally, Truist Financial increased their price target on Old Dominion Freight Line from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $226.55.

About Old Dominion Freight Line

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.

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