Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.8% in the 4th quarter, Holdings Channel reports. The fund owned 39,400 shares of the transportation company’s stock after selling 300 shares during the period. Forsta AP Fonden’s holdings in Old Dominion Freight Line were worth $6,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Old Dominion Freight Line by 109.5% during 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 period. International Assets Investment Management LLC boosted its stake in shares of Old Dominion Freight Line by 19,764.0% during the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after acquiring an additional 681,858 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the period. State Street Corp increased its stake in shares of Old Dominion Freight Line by 3.8% in 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 in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Old Dominion Freight Line by 6.0% in the 3rd 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. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $185.61 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $39.63 billion, a P/E ratio of 32.45, a PEG ratio of 4.96 and a beta of 1.05. The company has a 50-day moving average price of $193.53 and a 200 day moving average price of $197.95. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ODFL. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Wells Fargo & Company cut their price target on shares of 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. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, TD Cowen decreased their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $202.44.

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.