Nordea Investment Management AB Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Nordea Investment Management AB grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 15,629 shares of the transportation company’s stock after acquiring an additional 213 shares during the quarter. Nordea Investment Management AB’s holdings in Old Dominion Freight Line were worth $2,788,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ODFL. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter worth approximately $25,000. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at $45,000. Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at $64,000. Finally, Northwest Investment Counselors LLC purchased a new position in Old Dominion Freight Line during the third quarter valued at $67,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ODFL shares. JPMorgan Chase & Co. lifted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays boosted their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Citigroup boosted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Trading Down 1.8 %

Shares of NASDAQ:ODFL opened at $176.41 on Friday. The stock has a 50 day moving average of $202.88 and a 200 day moving average of $197.40. The company has a market cap of $37.66 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results 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 the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line 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.