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

Partners Group Holding AG reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.0% in the 4th quarter, HoldingsChannel reports. 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 filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ODFL. Stevens Capital Management LP increased its holdings in shares of Old Dominion Freight Line by 58.9% in the fourth quarter. Stevens Capital Management LP now owns 1,954 shares of the transportation company’s stock valued at $345,000 after purchasing an additional 724 shares during the period. LPL Financial LLC increased its holdings in Old Dominion Freight Line by 11.9% in the 4th quarter. LPL Financial LLC now owns 127,572 shares of the transportation company’s stock worth $22,504,000 after buying an additional 13,606 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Old Dominion Freight Line during the 4th quarter worth approximately $12,030,000. AXQ Capital LP lifted its stake in Old Dominion Freight Line by 114.8% during the 4th quarter. AXQ Capital LP now owns 4,268 shares of the transportation company’s stock valued at $753,000 after acquiring an additional 2,281 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Old Dominion Freight Line by 15.3% in the fourth quarter. Sei Investments Co. now owns 58,895 shares of the transportation company’s stock worth $10,389,000 after acquiring an additional 7,837 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $165.22 on Friday. The stock has a market capitalization of $35.12 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52 week low of $157.67 and a 52 week high of $233.26. The firm has a 50-day simple moving average of $184.41 and a 200-day simple moving average of $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 issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Analysts Set New Price Targets

Several equities research analysts have commented on ODFL shares. Citigroup lowered their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $200.00 in a report on Monday, February 24th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Company 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.