Perpetual Ltd Boosts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Perpetual Ltd increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 88.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,167 shares of the transportation company’s stock after buying an additional 1,487 shares during the quarter. Perpetual Ltd’s holdings in Old Dominion Freight Line were worth $559,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP boosted its position in Old Dominion Freight Line by 109.5% in the third 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after buying an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after buying an additional 78,587 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group upped their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. BMO Capital Markets dropped their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price target on 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. Finally, Stifel Nicolaus dropped their price objective on Old Dominion Freight Line from $178.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $201.50.

Old Dominion Freight Line Trading Down 0.9 %

Shares of NASDAQ:ODFL opened at $188.79 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $40.31 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 5.05 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a 50 day moving average price of $197.39 and a 200 day moving average price of $197.86.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current fiscal year.

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.