Swedbank AB Sells 97,061 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Swedbank AB decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 216,179 shares of the transportation company’s stock after selling 97,061 shares during the quarter. Swedbank AB’s holdings in Old Dominion Freight Line were worth $38,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth $45,000. Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares during the period. Quarry LP bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $60,000. Versant Capital Management Inc lifted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of the firm’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 sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $186.78 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The stock has a market cap of $39.88 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. The stock’s fifty day simple moving average is $194.22 and its two-hundred day simple moving average is $198.02. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

A number of brokerages have weighed in on ODFL. Bank of America lowered their target price on 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. Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Stifel Nicolaus raised their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $202.44.

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.