QRG Capital Management Inc. Buys 609 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

QRG Capital Management Inc. boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.0% in the third quarter, HoldingsChannel reports. The firm owned 6,704 shares of the transportation company’s stock after acquiring an additional 609 shares during the period. QRG Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $1,332,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $25,000. Atwood & Palmer Inc. boosted its stake 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 worth $27,000 after acquiring an additional 148 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in Old Dominion Freight Line by 138.3% during the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Versant Capital Management Inc increased its stake in Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares in the last quarter. Finally, LRI Investments LLC raised 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 worth $33,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $226.11 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $231.36. The business has a 50 day moving average of $197.95 and a 200-day moving average of $190.23. The stock has a market cap of $49.13 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 6.49 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 earnings per share. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stephens reiterated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Finally, Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $196.39.

Insider Buying and Selling at Old Dominion Freight Line

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

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.