QV Investors Inc. Purchases Shares of 125,910 Old Dominion Freight Line, Inc. $ODFL

QV Investors Inc. acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 125,910 shares of the transportation company’s stock, valued at approximately $19,743,000. Old Dominion Freight Line makes up about 1.6% of QV Investors Inc.’s investment portfolio, making the stock its 18th biggest position. QV Investors Inc. owned 0.06% of Old Dominion Freight Line at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Boston Partners purchased a new position in Old Dominion Freight Line in the 3rd quarter worth approximately $292,599,000. Two Sigma Investments LP increased its holdings in shares of Old Dominion Freight Line by 637.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after buying an additional 1,362,697 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Old Dominion Freight Line by 21.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after buying an additional 776,004 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after buying an additional 622,275 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 134.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 982,066 shares of the transportation company’s stock worth $138,255,000 after acquiring an additional 563,254 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Activity at Old Dominion Freight Line

In related news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares in the company, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the transaction, the director directly owned 11,278 shares in the company, valued at $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 80,134 shares of company stock worth $15,640,132 in the last ninety days. 10.00% of the stock is owned by company insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $198.00 on Friday. The stock has a market cap of $41.27 billion, a PE ratio of 40.99, a PEG ratio of 4.18 and a beta of 1.20. The company’s fifty day moving average is $191.79 and its 200 day moving average is $163.41. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.02%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Old Dominion Freight Line in a research report on Thursday, February 19th. Citigroup reaffirmed a “neutral” rating and set a $216.00 price target (up from $196.00) on shares of Old Dominion Freight Line in a research note on Friday, February 6th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Stephens reiterated an “overweight” rating and set a $232.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $191.13.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.