BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 4,886 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,627 shares of the transportation company’s stock after selling 4,886 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Old Dominion Freight Line were worth $6,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ODFL. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line during the second quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its holdings in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc increased its holdings in shares of Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares during the last quarter. LRI Investments LLC raised its position in Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line in the third quarter valued at about $45,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. The Goldman Sachs Group reduced their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Stephens restated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Citigroup raised their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Barclays lifted their target price on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $200.41.

Insiders Place Their Bets

In related news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $224.85 on Tuesday. The company has a market capitalization of $48.01 billion, a price-to-earnings ratio of 39.31, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The business has a 50 day simple moving average of $206.69 and a 200-day simple moving average of $193.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Old Dominion Freight Line 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.