Partners Group Holding AG Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Partners Group Holding AG lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 227.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,954 shares of the transportation company’s stock after buying an additional 81,230 shares during the quarter. Old Dominion Freight Line comprises 1.6% of Partners Group Holding AG’s investment portfolio, making the stock its 26th biggest position. Partners Group Holding AG’s holdings in Old Dominion Freight Line were worth $23,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after acquiring an additional 270,538 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after purchasing an additional 78,587 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Old Dominion Freight Line by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock worth $182,444,000 after purchasing an additional 86,427 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Old Dominion Freight Line by 39.1% in the 2nd quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock worth $123,294,000 after purchasing an additional 196,350 shares during the period. Finally, Bridges Investment Management Inc. grew its holdings in Old Dominion Freight Line by 12.9% during the 3rd quarter. Bridges Investment Management Inc. now owns 694,620 shares of the transportation company’s stock valued at $137,979,000 after buying an additional 79,348 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $225.11 on Tuesday. 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 stock has a market cap of $48.06 billion, a PE ratio of 39.35, a PEG ratio of 4.61 and a beta of 0.99. The company’s fifty day moving average is $204.50 and its 200 day moving average is $192.81. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

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

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.46%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ODFL shares. Robert W. Baird cut 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 report on Thursday, October 24th. Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price target on shares of 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. Evercore ISI dropped their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $200.00.

Insider Activity

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $4,028,510. 9.90% of the stock is currently owned by company insiders.

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.