Partners Group Holding AG Acquires 31,547 Shares of Old Dominion Freight Line, Inc. $ODFL

Partners Group Holding AG increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 24.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,661 shares of the transportation company’s stock after acquiring an additional 31,547 shares during the period. Old Dominion Freight Line comprises approximately 1.2% of Partners Group Holding AG’s holdings, making the stock its 26th largest holding. Partners Group Holding AG owned approximately 0.08% of Old Dominion Freight Line worth $26,075,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Stephens Inc. AR grew its position in Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after acquiring an additional 67 shares during the last quarter. Benjamin Edwards Inc. grew its position in Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after acquiring an additional 71 shares during the last quarter. iA Global Asset Management Inc. grew its position in Old Dominion Freight Line by 0.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 72 shares during the last quarter. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares in the last quarter. Finally, Grimes & Company Inc. lifted its holdings in Old Dominion Freight Line by 6.5% during the 2nd quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company’s stock worth $236,000 after buying an additional 88 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ODFL. Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Thursday, July 31st. Barclays reduced their price objective on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, UBS Group upped their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.33.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $137.51 on Tuesday. The business’s fifty day moving average is $142.51 and its 200-day moving average is $153.42. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a market cap of $28.90 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.43 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

About Old Dominion Freight Line

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.