Victory Capital Management Inc. Decreases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Victory Capital Management Inc. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 20.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,594 shares of the transportation company’s stock after selling 35,322 shares during the quarter. Victory Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $34,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Old Dominion Freight Line by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,860,421 shares of the transportation company’s stock valued at $3,243,791,000 after buying an additional 113,806 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Old Dominion Freight Line by 56.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,072,725 shares of the transportation company’s stock valued at $2,325,158,000 after buying an additional 3,282,314 shares during the period. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 2.4% during the second quarter. JPMorgan Chase & Co. now owns 2,729,323 shares of the transportation company’s stock valued at $699,471,000 after buying an additional 63,670 shares during the period. WCM Investment Management LLC increased its position in shares of Old Dominion Freight Line by 12.8% during the third quarter. WCM Investment Management LLC now owns 1,550,188 shares of the transportation company’s stock valued at $394,027,000 after buying an additional 176,368 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Old Dominion Freight Line by 7.0% during the second quarter. CIBC Private Wealth Group LLC now owns 1,381,614 shares of the transportation company’s stock valued at $354,080,000 after buying an additional 90,230 shares during the period. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Old Dominion Freight Line Trading Up 2.0 %

Shares of NASDAQ ODFL opened at $317.02 on Monday. The firm’s 50 day moving average price is $297.59 and its 200-day moving average price is $283.38. The company has a market cap of $35.03 billion, a PE ratio of 27.17, a P/E/G ratio of 2.17 and a beta of 1.07. Old Dominion Freight Line, Inc. has a 52-week low of $231.31 and a 52-week high of $333.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The transportation company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.30. Old Dominion Freight Line had a net margin of 21.56% and a return on equity of 37.27%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 11.92 EPS for the current fiscal year.

Insider Activity

In other news, Chairman David S. Congdon sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $313.95, for a total transaction of $10,046,400.00. Following the completion of the transaction, the chairman now directly owns 858,861 shares of the company’s stock, valued at $269,639,410.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Old Dominion Freight Line from $267.00 to $290.00 in a research report on Monday, November 28th. Citigroup boosted their price objective on shares of Old Dominion Freight Line to $275.00 in a research note on Thursday, October 13th. Credit Suisse Group boosted their price objective on shares of Old Dominion Freight Line from $285.00 to $292.00 and gave the stock a “neutral” rating in a research note on Thursday, October 27th. Cowen boosted their price objective on shares of Old Dominion Freight Line to $267.00 in a research note on Thursday, October 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Old Dominion Freight Line from $305.00 to $315.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $289.67.

Old Dominion Freight Line Profile

(Get Rating)

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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