Jacobs Levy Equity Management Inc. Has $117.94 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Jacobs Levy Equity Management Inc. reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 52.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 668,617 shares of the transportation company's stock after selling 735,046 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.31% of Old Dominion Freight Line worth $117,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. raised its stake in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $128,221,000. Raymond James Financial Inc. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $114,449,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after purchasing an additional 573,586 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ODFL. Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the stock an "underweight" rating in a research note on Thursday, April 24th. Susquehanna dropped their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Finally, Raymond James set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an "outperform" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $183.37.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $158.28 on Friday. The firm's 50 day simple moving average is $159.88 and its 200 day simple moving average is $184.52. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The company has a market capitalization of $33.45 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.89 and a beta of 1.31. 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 - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $1.34 earnings per share. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current 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.

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