AustralianSuper Pty Ltd grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 955.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,005 shares of the transportation company’s stock after acquiring an additional 67,898 shares during the period. AustralianSuper Pty Ltd’s holdings in Old Dominion Freight Line were worth $11,761,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of ODFL. Boston Partners purchased a new position in Old Dominion Freight Line during the third quarter valued at $292,599,000. Two Sigma Investments LP lifted its position in Old Dominion Freight Line by 637.5% during the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after purchasing an additional 1,362,697 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Old Dominion Freight Line by 21.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after acquiring an additional 776,004 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after acquiring an additional 622,275 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 134.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 982,066 shares of the transportation company’s stock valued at $138,255,000 after acquiring an additional 563,254 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.
Old Dominion Freight Line Trading Up 2.2%
NASDAQ ODFL opened at $203.12 on Friday. The stock’s 50 day moving average is $200.07 and its 200 day moving average is $176.80. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79. The stock has a market cap of $42.24 billion, a PE ratio of 42.49, a P/E/G ratio of 4.07 and a beta of 1.17.
Insider Activity at Old Dominion Freight Line
In other news, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the transaction, the director owned 11,278 shares in the company, valued at $2,190,977.06. This trade represents a 21.75% 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 firm’s stock in a transaction dated 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 transaction, the insider owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,241 shares of company stock worth $19,874,065 in the last three months. Insiders own 10.00% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday, February 12th. Morgan Stanley set a $235.00 price objective on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $206.29.
Get Our Latest Analysis on Old Dominion Freight Line
About Old Dominion Freight Line
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.
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