Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 721.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,560 shares of the transportation company's stock after purchasing an additional 9,274 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Old Dominion Freight Line were worth $1,863,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter worth $51,000. Versant Capital Management Inc increased its position in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after buying an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $69,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 1.1 %

Shares of ODFL traded down $1.84 during mid-day trading on Friday, reaching $158.28. 1,058,011 shares of the stock traded hands, compared to its average volume of 1,676,472. The stock has a fifty day simple moving average of $159.88 and a 200 day simple moving average of $184.55. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $33.58 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm's quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the company an "underweight" rating in a research note on Thursday, April 24th. Truist Financial dropped their price target on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group decreased their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target of $183.37.

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.