Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 594,391 shares of the transportation company’s stock after acquiring an additional 123,271 shares during the quarter. Old Dominion Freight Line makes up approximately 9.2% of Quantum Capital Management LLC NJ’s holdings, making the stock its 2nd biggest position. Quantum Capital Management LLC NJ owned approximately 0.28% of Old Dominion Freight Line worth $83,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. YANKCOM Partnership grew its position in Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 68 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its position in Old Dominion Freight Line by 4.4% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after buying an additional 71 shares in the last quarter. STF Management LP boosted its stake in shares of Old Dominion Freight Line by 2.4% during the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after buying an additional 77 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Old Dominion Freight Line by 0.6% during the 1st quarter. Summit Investment Advisors Inc. now owns 14,347 shares of the transportation company’s stock worth $2,374,000 after buying an additional 79 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Argus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 12th. Bank of America set a $165.00 price target on Old Dominion Freight Line in a research report on Thursday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Old Dominion Freight Line in a research report on Thursday, February 19th. Wells Fargo & Company boosted their price target on Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. Finally, Raymond James Financial upped their price objective on Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $190.50.

Insider Transactions at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 52,000 shares of the stock in a transaction on 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 completion of the sale, the chairman owned 712,800 shares in the company, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is owned by company insiders.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $193.97 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $221.63. The stock has a market cap of $40.43 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 4.08 and a beta of 1.23. The firm’s 50-day moving average is $184.00 and its 200-day moving average is $158.04.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line’s payout ratio is 24.02%.

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.