Reliant Investment Management LLC Has $3.85 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Reliant Investment Management LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,850 shares of the transportation company’s stock after buying an additional 2,060 shares during the period. Reliant Investment Management LLC’s holdings in Old Dominion Freight Line were worth $3,854,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ODFL. Avanza Fonder AB purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $3,741,000. Toronto Dominion Bank boosted its holdings in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $600,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after buying an additional 1,017 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $2,109,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America dropped their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Citigroup upped their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Robert W. Baird lowered their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Susquehanna reissued a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $201.50.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $189.55 on Tuesday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The business has a 50-day moving average of $198.84 and a two-hundred day moving average of $197.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $40.47 billion, a PE ratio of 33.14, a P/E/G ratio of 5.05 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

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.