QRG Capital Management Inc. Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

QRG Capital Management Inc. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,541 shares of the transportation company’s stock after buying an additional 837 shares during the period. QRG Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. SevenBridge Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after acquiring an additional 50 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after purchasing an additional 62 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $172.28 on Tuesday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The stock has a market cap of $36.62 billion, a PE ratio of 31.44, a P/E/G ratio of 2.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50 day moving average price of $187.41 and a 200 day moving average price of $197.11.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is 18.98%.

Analyst Ratings Changes

Several research analysts recently issued reports on ODFL shares. The Goldman Sachs Group upped their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Evercore ISI boosted their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. Finally, Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $203.72.

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.