Quantum Capital Management LLC NJ Has $83.68 Million Position in Old Dominion Freight Line, Inc. $ODFL

Quantum Capital Management LLC NJ boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 594,391 shares of the transportation company’s stock after buying an additional 123,271 shares during the period. Old Dominion Freight Line makes up 9.2% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 2nd largest holding. Quantum Capital Management LLC NJ’s holdings in Old Dominion Freight Line were worth $83,678,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Old Dominion Freight Line by 2.2% in the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after purchasing an additional 494,674 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after purchasing an additional 622,275 shares during the last quarter. Norges Bank bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $371,961,000. Lazard Asset Management LLC grew its holdings in Old Dominion Freight Line by 11.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after buying an additional 200,681 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Old Dominion Freight Line by 9.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after buying an additional 137,068 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. This represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,134 shares of company stock worth $15,640,132 over the last ninety days. Corporate insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Susquehanna reiterated a “neutral” rating and set a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Evercore upped their price target on shares of Old Dominion Freight Line from $150.00 to $200.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, January 8th. Morgan Stanley reiterated an “overweight” rating and issued a $209.00 price objective (up from $190.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Finally, TD Cowen boosted their price objective on shares of Old Dominion Freight Line from $167.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $190.50.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $193.97 on Friday. The stock has a fifty day moving average price of $184.00 and a 200-day moving average price of $158.04. The company 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. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm posted $1.23 EPS. Old Dominion Freight Line’s quarterly revenue was down 5.7% on a year-over-year basis. Research 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.29 per share. The ex-dividend date 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 yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

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.