Reliant Investment Management LLC Purchases 2,060 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Reliant Investment Management LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,850 shares of the transportation company’s stock after purchasing 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 the stock. Mercer Global Advisors Inc. ADV grew its holdings in shares of Old Dominion Freight Line by 1.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,760 shares of the transportation company’s stock valued at $1,194,000 after buying an additional 84 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Old Dominion Freight Line by 45.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,541 shares of the transportation company’s stock valued at $273,000 after purchasing an additional 478 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $25,000. AE Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line by 0.9% in the 2nd quarter. AE Wealth Management LLC now owns 8,281 shares of the transportation company’s stock valued at $1,462,000 after purchasing an additional 76 shares during the period. Finally, Sei Investments Co. raised its holdings in Old Dominion Freight Line by 7.5% in the 2nd quarter. Sei Investments Co. now owns 46,415 shares of the transportation company’s stock valued at $8,198,000 after acquiring an additional 3,227 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $189.55 on Tuesday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a 50 day moving average price of $198.84 and a 200 day moving average price of $197.87. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $40.47 billion, a P/E ratio of 33.14, a PEG ratio of 5.05 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America decreased 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 research report on Thursday, January 16th. TD Cowen cut their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group lifted 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, BMO Capital Markets lowered their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.50.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, 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. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line 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.