Janus Henderson Group PLC Acquires 917 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Janus Henderson Group PLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,671 shares of the transportation company’s stock after purchasing an additional 917 shares during the quarter. Janus Henderson Group PLC’s holdings in Old Dominion Freight Line were worth $4,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after buying an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter worth about $92,697,000. Renaissance Technologies LLC bought a new position in Old Dominion Freight Line in the 2nd quarter valued at approximately $82,398,000. Bridges Investment Management Inc. raised its position in Old Dominion Freight Line by 136.0% during the 2nd quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock worth $108,657,000 after purchasing an additional 354,588 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 0.6 %

NASDAQ:ODFL opened at $205.09 on Wednesday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The business has a fifty day moving average price of $208.49 and a 200-day moving average price of $195.62. The firm has a market capitalization of $43.79 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 4.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analyst Ratings Changes

A number of research firms recently issued reports on ODFL. Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets reduced their price objective 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 report on Thursday, October 24th. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lifted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $202.88.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 directly owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business’s 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 completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

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.