Bridges Investment Management Inc. Has $137.98 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bridges Investment Management Inc. grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 12.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 694,620 shares of the transportation company's stock after purchasing an additional 79,348 shares during the period. Old Dominion Freight Line comprises approximately 1.9% of Bridges Investment Management Inc.'s holdings, making the stock its 14th biggest holding. Bridges Investment Management Inc. owned about 0.32% of Old Dominion Freight Line worth $137,979,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the second quarter worth $25,000. Atwood & Palmer Inc. lifted its position in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock valued at $27,000 after purchasing an additional 148 shares during the period. Washington Trust Advisors Inc. grew its position in shares of Old Dominion Freight Line by 138.3% during the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company's stock worth $31,000 after buying an additional 83 shares during the period. Versant Capital Management Inc raised its stake in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock worth $31,000 after buying an additional 163 shares during the last quarter. Finally, LRI Investments LLC lifted its holdings in Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after buying an additional 79 shares during the period. Institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group dropped their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Stifel Nicolaus lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating and cut their target price for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Citigroup began coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They issued a "neutral" rating and a $206.00 price target for the company. Robert W. Baird reduced their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $196.39.

Old Dominion Freight Line Stock Up 1.4 %

Old Dominion Freight Line stock traded up $3.20 during mid-day trading on Friday, reaching $226.11. The company's stock had a trading volume of 1,092,606 shares, compared to its average volume of 1,529,565. The business's 50 day simple moving average is $197.95 and its 200 day simple moving average is $190.23. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $231.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. The company has a market capitalization of $49.13 billion, a price-to-earnings ratio of 39.53, a price-to-earnings-growth ratio of 6.49 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. Old Dominion Freight Line's quarterly revenue was down 3.0% on a year-over-year basis. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line's dividend payout ratio is presently 18.18%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company's stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,975 shares of company stock worth $9,386,158. Insiders own 9.90% of the company's stock.

Old Dominion Freight Line Company Profile

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.