National Bank of Canada FI Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

National Bank of Canada FI boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 350.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,596 shares of the transportation company’s stock after buying an additional 248,682 shares during the quarter. National Bank of Canada FI owned 0.15% of Old Dominion Freight Line worth $63,485,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $25,000. LRI Investments LLC boosted its stake in shares of 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. Cullen Frost Bankers Inc. boosted its stake in shares of Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 189 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $45,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ODFL shares. Robert W. Baird lowered their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America decreased their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Wells Fargo & Company decreased their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $202.88.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 0.0 %

ODFL stock opened at $203.00 on Friday. 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, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company’s 50 day moving average is $208.18 and its two-hundred day moving average is $195.01. The stock has a market cap of $43.34 billion, a P/E ratio of 35.49, a PEG ratio of 4.41 and a beta of 1.00.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line’s payout ratio is 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.