Chesley Taft & Associates LLC Sells 1,120 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chesley Taft & Associates LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,400 shares of the transportation company’s stock after selling 1,120 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Old Dominion Freight Line were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares during the period. Franklin Resources Inc. boosted its position in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the period. State Street Corp grew its stake in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after acquiring an additional 275,236 shares during the period. 77.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction 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 sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on 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 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. Insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Bank of America reduced their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $178.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Finally, Susquehanna restated a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $201.50.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $190.43 on Wednesday. The business’s fifty day moving average is $198.13 and its two-hundred day moving average is $197.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $40.66 billion, a P/E ratio of 33.29, a P/E/G ratio of 5.05 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for 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 firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

About Old Dominion Freight Line

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.