Ontario Teachers Pension Plan Board Has $1.59 Million Stock Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

Ontario Teachers Pension Plan Board raised its position in Old Dominion Freight Line (NASDAQ:ODFL) by 256.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,139 shares of the transportation company’s stock after buying an additional 8,733 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Old Dominion Freight Line were worth $1,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. BlackRock Inc. grew its holdings in Old Dominion Freight Line by 53.6% in the 1st quarter. BlackRock Inc. now owns 6,550,218 shares of the transportation company’s stock valued at $859,784,000 after buying an additional 2,284,461 shares in the last quarter. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $137,947,000. Alpha Omega Wealth Management LLC grew its holdings in shares of Old Dominion Freight Line by 48.8% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 1,824,519 shares of the transportation company’s stock worth $239,486,000 after purchasing an additional 598,185 shares in the last quarter. State Street Corp grew its holdings in shares of Old Dominion Freight Line by 22.6% during the 4th quarter. State Street Corp now owns 2,685,768 shares of the transportation company’s stock worth $509,705,000 after purchasing an additional 495,064 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Old Dominion Freight Line by 146.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 631,559 shares of the transportation company’s stock worth $82,898,000 after purchasing an additional 375,480 shares in the last quarter. 57.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on ODFL shares. Morgan Stanley raised their target price on Old Dominion Freight Line from $145.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Stephens lifted their price target on Old Dominion Freight Line from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. KeyCorp reiterated a “buy” rating and set a $165.00 price target (up from $155.00) on shares of Old Dominion Freight Line in a report on Friday. Citigroup lowered their target price on Old Dominion Freight Line from $132.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Finally, Deutsche Bank upped their price target on Old Dominion Freight Line from $125.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $131.00.

NASDAQ ODFL opened at $155.91 on Friday. The business’s fifty day moving average price is $140.93 and its 200-day moving average price is $180.19. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.59 and a beta of 1.02. Old Dominion Freight Line has a 1-year low of $87.25 and a 1-year high of $158.47.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 23rd. The transportation company reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.01). Old Dominion Freight Line had a return on equity of 20.85% and a net margin of 14.99%. The company had revenue of $987.36 million during the quarter, compared to the consensus estimate of $982.15 million. During the same period in the prior year, the business posted $1.64 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts expect that Old Dominion Freight Line will post 4.57 EPS for the current fiscal year.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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