Old Dominion Freight Line, Inc. $ODFL Stock Holdings Increased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management dramatically increased its stake in Old Dominion Freight Line during the fourth quarter, boosting holdings by 15,188% to 407,885 shares worth about $64 million.
• Other institutions also added to their positions, and 77.82% of the stock is now owned by institutional investors, indicating broad professional interest in the company.
• Insider selling picked up, including notable sales by Earl E. Congdon and Director Bradley R. Gabosch, while analysts currently rate ODFL a Hold on average with a $206.29 price target.

Northwestern Mutual Wealth Management Co. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 15,188.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,885 shares of the transportation company's stock after purchasing an additional 405,217 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.20% of Old Dominion Freight Line worth $63,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Phoenix Financial Ltd. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $229,000. AustralianSuper Pty Ltd raised its holdings in shares of Old Dominion Freight Line by 955.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company's stock valued at $11,761,000 after acquiring an additional 67,898 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Old Dominion Freight Line by 224.4% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 626 shares of the transportation company's stock valued at $98,000 after acquiring an additional 433 shares during the period. Allworth Financial LP raised its holdings in shares of Old Dominion Freight Line by 32.1% during the fourth quarter. Allworth Financial LP now owns 2,410 shares of the transportation company's stock valued at $378,000 after acquiring an additional 585 shares during the period. Finally, Proactive Wealth Strategies LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $202,000. 77.82% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Earl E. Congdon sold 25,000 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider directly owned 2,162,113 shares of the company's stock, valued at approximately $424,055,222.69. This represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares of the company's stock, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 102,241 shares of company stock valued at $19,874,065 in the last quarter. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $203.12 on Monday. The company has a fifty day simple moving average of $200.07 and a 200 day simple moving average of $177.08. The company has a market cap of $42.24 billion, a P/E ratio of 42.49, a P/E/G ratio of 4.16 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. Old Dominion Freight Line's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wolfe Research boosted their price target on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the company an "underperform" rating in a report on Tuesday, April 7th. The Goldman Sachs Group set a $216.00 price target on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a report on Thursday, April 30th. Wells Fargo & Company boosted their price target on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Evercore set a $219.00 price target on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn dropped their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a "sell" rating on the stock in a research note on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and an average price target of $206.29.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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