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

Victory Capital Management Inc. decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,594 shares of the transportation company’s stock after selling 35,322 shares during the period. Victory Capital Management Inc. owned 0.12% of Old Dominion Freight Line worth $34,478,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $26,000. CoreCap Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $29,000. Glassman Wealth Services increased its stake in shares of Old Dominion Freight Line by 105.3% during the 2nd quarter. Glassman Wealth Services now owns 117 shares of the transportation company’s stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Old Dominion Freight Line by 56.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company’s stock worth $52,000 after purchasing an additional 63 shares during the last quarter. Finally, CX Institutional purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 32,000 shares of Old Dominion Freight Line stock in a transaction 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 sale, the chairman now directly owns 858,861 shares of the company’s stock, valued at approximately $269,639,410.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.30% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Up 2.0 %

Shares of NASDAQ:ODFL opened at $317.02 on Monday. The firm has a fifty day moving average price of $297.59 and a two-hundred day moving average price of $283.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. Old Dominion Freight Line, Inc. has a one year low of $231.31 and a one year high of $333.71. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.17 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The transportation company reported $3.36 EPS 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 the consensus estimate of $1.62 billion. Analysts anticipate that Old Dominion Freight Line, Inc. will post 11.92 EPS for the current fiscal year.

Analyst Ratings Changes

ODFL has been the subject of several research analyst reports. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $265.00 to $260.00 in a research note on Thursday, October 27th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Old Dominion Freight Line from $267.00 to $290.00 in a research note on Monday, November 28th. Citigroup raised their price target on shares of Old Dominion Freight Line to $275.00 in a research note on Thursday, October 13th. Cowen raised their price objective on shares of Old Dominion Freight Line to $267.00 in a report on Thursday, October 27th. Finally, Susquehanna Bancshares cut their price objective on shares of Old Dominion Freight Line from $265.00 to $260.00 in a report on Thursday, October 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $289.67.

About Old Dominion Freight Line

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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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