Janus Henderson Group PLC Acquires 917 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Janus Henderson Group PLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,671 shares of the transportation company’s stock after buying an additional 917 shares during the quarter. Janus Henderson Group PLC’s holdings in Old Dominion Freight Line were worth $4,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ODFL. International Assets Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares during the last quarter. Bristol Gate Capital Partners Inc. purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $92,697,000. Renaissance Technologies LLC purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at $82,398,000. Bridges Investment Management Inc. lifted its position in Old Dominion Freight Line by 136.0% in the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock worth $108,657,000 after buying an additional 354,588 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after buying an additional 270,538 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ODFL shares. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Evercore ISI cut their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. TD Cowen reduced their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their target price for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $202.88.

Old Dominion Freight Line Trading Up 0.6 %

NASDAQ:ODFL opened at $205.09 on Wednesday. The firm has a 50-day simple moving average of $208.49 and a 200-day simple moving average of $195.62. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The firm has a market cap of $43.79 billion, a P/E ratio of 35.85, a P/E/G ratio of 4.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

About Old Dominion Freight Line

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.