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

Partners Group Holding AG lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,742 shares of the transportation company’s stock after selling 15,212 shares during the quarter. Partners Group Holding AG’s holdings in Old Dominion Freight Line were worth $17,947,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $128,221,000. Raymond James Financial Inc. purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $114,449,000. Thrivent Financial for Lutherans raised its stake in Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after purchasing an additional 573,586 shares during the period. Finally, Franklin Resources Inc. raised its stake in Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after purchasing an additional 437,700 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 2.5 %

ODFL opened at $165.22 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $157.67 and a 52 week high of $233.26. The company has a market capitalization of $35.12 billion, a P/E ratio of 30.15, a PEG ratio of 2.89 and a beta of 1.10. The stock’s fifty day moving average is $184.41 and its two-hundred day moving average is $194.30. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ODFL. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Susquehanna restated a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Citigroup cut their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $202.65.

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.