Axa S.A. Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Axa S.A. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,026 shares of the transportation company's stock after selling 2,254 shares during the quarter. Axa S.A.'s holdings in Old Dominion Freight Line were worth $3,003,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ODFL. Principal Financial Group Inc. grew its holdings in Old Dominion Freight Line by 26.9% in the 3rd quarter. Principal Financial Group Inc. now owns 421,140 shares of the transportation company's stock valued at $83,655,000 after buying an additional 89,395 shares during the period. Nordea Investment Management AB grew its holdings in Old Dominion Freight Line by 1.4% in the fourth quarter. Nordea Investment Management AB now owns 15,629 shares of the transportation company's stock valued at $2,788,000 after purchasing an additional 213 shares during the period. Czech National Bank increased its position in Old Dominion Freight Line by 6.0% during the fourth quarter. Czech National Bank now owns 40,736 shares of the transportation company's stock worth $7,186,000 after purchasing an additional 2,320 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $600,000. Finally, Park Avenue Securities LLC boosted its holdings in shares of Old Dominion Freight Line by 11.9% in the 4th quarter. Park Avenue Securities LLC now owns 4,714 shares of the transportation company's stock valued at $832,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Jefferies Financial Group cut their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Truist Financial reduced their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Finally, Raymond James set a $185.00 price objective on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $183.37.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $155.59 on Thursday. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. 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 cap of $33.01 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.89 and a beta of 1.31. The business's 50 day moving average is $160.45 and its two-hundred day moving average is $185.09.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 EPS. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.