Quadrant Capital Group LLC Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Quadrant Capital Group LLC decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,357 shares of the transportation company’s stock after selling 118 shares during the period. Quadrant Capital Group LLC’s holdings in Old Dominion Freight Line were worth $550,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Fifth Third Bancorp grew its stake in Old Dominion Freight Line by 4.1% during the 3rd quarter. Fifth Third Bancorp now owns 3,790 shares of the transportation company’s stock valued at $1,551,000 after purchasing an additional 148 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Old Dominion Freight Line by 0.4% in the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock valued at $9,528,000 after acquiring an additional 92 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in Old Dominion Freight Line by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 4,675 shares of the transportation company’s stock valued at $1,913,000 after acquiring an additional 300 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Old Dominion Freight Line by 16.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,172 shares of the transportation company’s stock worth $6,207,000 after purchasing an additional 2,179 shares during the last quarter. Finally, Banque Pictet & Cie SA acquired a new position in Old Dominion Freight Line in the third quarter worth about $514,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $183.07 on Friday. The firm has a market cap of $39.78 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 2.92 and a beta of 1.07. The stock’s 50-day moving average is $209.62 and its two-hundred day moving average is $204.77. Old Dominion Freight Line, Inc. has a fifty-two week low of $147.90 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ODFL has been the subject of several research reports. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Barclays reduced their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price for the company in a research note on Wednesday, May 8th. Finally, UBS Group upped their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $209.08.

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.