Partners Group Holding AG Purchases 27,372 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Partners Group Holding AG increased its stake in Old Dominion Freight Line by 26.9%, acquiring an additional 27,372 shares, and now holds a total of approximately $21.36 million worth of the company’s stock.
• Several institutional investors have raised their positions in Old Dominion Freight Line, including Ameriprise Financial with a 2.9% increase and Bayesian Capital Management with a significant 592.3% increase, reflecting strong institutional interest.
• Old Dominion Freight Line reported $1.27 earnings per share for the last quarter, missing analyst estimates of $1.29, and its revenue also dropped 6.1% year-over-year to $1.41 billion.

Partners Group Holding AG grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,114 shares of the transportation company's stock after acquiring an additional 27,372 shares during the quarter. Old Dominion Freight Line accounts for approximately 0.9% of Partners Group Holding AG's investment portfolio, making the stock its 29th biggest position. Partners Group Holding AG owned about 0.06% of Old Dominion Freight Line worth $21,362,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Larson Financial Group LLC grew its position in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line in the first quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth approximately $39,000. Zions Bancorporation National Association UT bought a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. Finally, Itau Unibanco Holding S.A. increased its stake in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after acquiring an additional 192 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 2.8%

NASDAQ:ODFL traded down $4.3210 on Wednesday, hitting $150.4790. The stock had a trading volume of 1,141,784 shares, compared to its average volume of 1,842,802. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 52 week low of $140.91 and a 52 week high of $233.26. The business's fifty day moving average is $159.01 and its 200 day moving average is $165.21. The company has a market cap of $31.63 billion, a PE ratio of 29.39, a P/E/G ratio of 3.46 and a beta of 1.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $1.48 earnings per share. Old Dominion Freight Line's revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ODFL shares. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Susquehanna cut their price target on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Finally, Vertical Research upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $167.62.

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.