Old Dominion Freight Line, Inc. $ODFL Stake Lifted by Ethic Inc.

Ethic Inc. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,698 shares of the transportation company’s stock after acquiring an additional 3,386 shares during the period. Ethic Inc.’s holdings in Old Dominion Freight Line were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MGO One Seven LLC grew its stake in Old Dominion Freight Line by 2.4% during the 4th quarter. MGO One Seven LLC now owns 19,795 shares of the transportation company’s stock worth $3,104,000 after buying an additional 460 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in Old Dominion Freight Line by 13.4% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,186 shares of the transportation company’s stock worth $500,000 after acquiring an additional 376 shares during the period. Sequoia Financial Advisors LLC boosted its position in Old Dominion Freight Line by 97.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,088 shares of the transportation company’s stock worth $1,739,000 after acquiring an additional 5,479 shares during the period. Retirement Planning Group LLC boosted its position in Old Dominion Freight Line by 2.8% during the 4th quarter. Retirement Planning Group LLC now owns 2,963 shares of the transportation company’s stock worth $465,000 after acquiring an additional 80 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position in Old Dominion Freight Line by 10.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 91,552 shares of the transportation company’s stock worth $14,355,000 after acquiring an additional 8,857 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ODFL shares. UBS Group boosted their price target on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Robert W. Baird set a $229.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Citigroup reiterated a “neutral” rating and set a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Susquehanna reiterated a “neutral” rating and issued a $205.00 price target (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $206.29.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 102,241 shares of company stock valued at $19,874,065. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Stock Down 1.0%

Shares of NASDAQ ODFL opened at $189.18 on Thursday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79. The company has a market cap of $39.34 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 3.91 and a beta of 1.17. The business has a fifty day simple moving average of $200.51 and a 200-day simple moving average of $176.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business posted $1.19 earnings per share. Old Dominion Freight Line’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Company Profile

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.