Thrivent Financial for Lutherans Has $94.42 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Thrivent Financial for Lutherans trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 602,160 shares of the transportation company’s stock after selling 136,069 shares during the period. Thrivent Financial for Lutherans’ holdings in Old Dominion Freight Line were worth $94,418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Old Dominion Freight Line by 224.4% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 626 shares of the transportation company’s stock worth $98,000 after buying an additional 433 shares during the period. Allworth Financial LP grew its position in shares of Old Dominion Freight Line by 32.1% during the 4th quarter. Allworth Financial LP now owns 2,410 shares of the transportation company’s stock worth $378,000 after buying an additional 585 shares during the period. Proactive Wealth Strategies LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $202,000. Argos Wealth Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $577,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $224,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the transaction, the chairman owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 102,241 shares of company stock worth $19,874,065. Company insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $198.81 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79. The stock has a market capitalization of $41.35 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 3.87 and a beta of 1.17. The business’s 50-day simple moving average is $200.33 and its 200-day simple moving average is $176.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $1.19 EPS. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Analyst Ratings Changes

ODFL has been the subject of several analyst reports. UBS Group boosted their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Wolfe Research boosted their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 7th. Rothschild & Co Redburn decreased their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday. Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Eight equities research 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, the company currently has a consensus rating of “Hold” and an average price target of $206.29.

Old Dominion Freight Line Company 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.