TRUE Private Wealth Advisors purchased a new position in shares of Old Dominion Freight Line (NASDAQ:ODFL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 902 shares of the transportation company’s stock, valued at approximately $145,000.

A number of other large investors have also recently added to or reduced their stakes in ODFL. MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of Old Dominion Freight Line by 5,010.3% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 254,850 shares of the transportation company’s stock worth $41,097,000 after acquiring an additional 249,863 shares during the period. Morgan Stanley increased its position in shares of Old Dominion Freight Line by 107.1% during the second quarter. Morgan Stanley now owns 473,609 shares of the transportation company’s stock worth $70,549,000 after acquiring an additional 244,948 shares during the period. Legal & General Group Plc increased its position in shares of Old Dominion Freight Line by 148.4% during the first quarter. Legal & General Group Plc now owns 307,835 shares of the transportation company’s stock worth $45,243,000 after acquiring an additional 183,918 shares during the period. Wells Fargo & Company MN increased its position in shares of Old Dominion Freight Line by 24.6% during the second quarter. Wells Fargo & Company MN now owns 734,540 shares of the transportation company’s stock worth $109,417,000 after acquiring an additional 145,041 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Old Dominion Freight Line by 416.9% during the second quarter. CIBC Private Wealth Group LLC now owns 165,345 shares of the transportation company’s stock worth $24,630,000 after acquiring an additional 133,357 shares during the period. Institutional investors own 72.49% of the company’s stock.

A number of analysts have recently weighed in on the company. Cowen upped their price objective on Old Dominion Freight Line from $145.00 to $156.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. BidaskClub lowered Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Buckingham Research upped their price objective on Old Dominion Freight Line from $155.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, July 27th. Finally, ValuEngine lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $146.92.

NASDAQ:ODFL opened at $132.06 on Friday. The firm has a market capitalization of $10.83 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 0.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77. Old Dominion Freight Line has a 12 month low of $109.68 and a 12 month high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 26th. The transportation company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.82 by $0.17. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Old Dominion Freight Line had a return on equity of 20.31% and a net margin of 15.37%. Old Dominion Freight Line’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share. Analysts predict that Old Dominion Freight Line will post 6.97 EPS for the current fiscal year.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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