Caisse DE Depot ET Placement DU Quebec Sells 9,156 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Old Dominion Freight Line by 86.7%, selling 9,156 shares to end the first quarter with 1,404 shares valued at $232,000.
• Analyst ratings for Old Dominion Freight Line show a mix of increases and decreases, resulting in an average rating of "Hold" with a consensus price target of $167.62.
• Old Dominion Freight Line has announced a quarterly dividend of $0.28, reflecting a yield of 0.7%, with the payment date set for September 17th.

Caisse DE Depot ET Placement DU Quebec lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 86.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,404 shares of the transportation company's stock after selling 9,156 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Old Dominion Freight Line were worth $232,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lido Advisors LLC raised its position in Old Dominion Freight Line by 3.2% in the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock worth $340,000 after purchasing an additional 59 shares during the last quarter. Benjamin Edwards Inc. raised its position in Old Dominion Freight Line by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company's stock worth $405,000 after purchasing an additional 67 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock worth $268,000 after purchasing an additional 71 shares during the last quarter. City Holding Co. raised its position in Old Dominion Freight Line by 1.1% in the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock worth $1,175,000 after purchasing an additional 75 shares during the last quarter. Finally, Brighton Jones LLC raised its position in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 1.0%

Shares of ODFL stock traded down $1.55 on Wednesday, hitting $148.07. The stock had a trading volume of 774,960 shares, compared to its average volume of 1,843,025. The firm has a market cap of $31.12 billion, a P/E ratio of 28.92, a PEG ratio of 3.50 and a beta of 1.23. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a twelve month low of $140.91 and a twelve month high of $233.26. The company has a fifty day moving average price of $157.65 and a two-hundred day moving average price of $162.08.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced 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). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line's payout ratio is 21.88%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Raymond James Financial dropped their target price on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Morgan Stanley dropped their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. Finally, UBS Group dropped their target price on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $167.62.

About Old Dominion Freight Line

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.