Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Partners Group Holding AG

Key Points

• Partners Group Holding AG increased its stake in Old Dominion Freight Line by 37% in the fourth quarter, buying an additional 52,514 shares and lifting its total holdings to 194,631 shares worth about $30.5 million.
• Analysts are mostly cautious on ODFL: several firms recently raised price targets, but the stock still carries a consensus rating of “Hold” with an average target price of $206.29.
• The company reported better-than-expected quarterly results, posting EPS of $1.14 versus the $1.05 estimate and revenue of $1.33 billion, though revenue was still down 2.9% year over year.

Partners Group Holding AG grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,631 shares of the transportation company's stock after purchasing an additional 52,514 shares during the quarter. Old Dominion Freight Line makes up 2.1% of Partners Group Holding AG's holdings, making the stock its 21st biggest position. Partners Group Holding AG owned about 0.09% of Old Dominion Freight Line worth $30,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODFL. Westside Investment Management Inc. boosted its position in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock worth $27,000 after acquiring an additional 98 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Old Dominion Freight Line during the third quarter worth about $37,000. Torren Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $41,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $50,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $55,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $183.00 to $197.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the company a "hold" rating in a report on Wednesday, April 22nd. Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Finally, Stifel Nicolaus increased their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $206.29.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company's stock, valued at approximately $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 99,107 shares of company stock worth $19,265,223. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Up 0.2%

Shares of NASDAQ ODFL opened at $204.46 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79. The firm has a 50-day moving average price of $200.15 and a 200 day moving average price of $178.04. The stock has a market capitalization of $42.52 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 4.18 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter last year, the business earned $1.19 earnings per share. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

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.

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