Quent Capital LLC Raises Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Quent Capital LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,277 shares of the transportation company’s stock after purchasing an additional 67 shares during the period. Quent Capital LLC’s holdings in Old Dominion Freight Line were worth $226,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. DAVENPORT & Co LLC boosted its holdings in Old Dominion Freight Line by 8.5% in the 4th quarter. DAVENPORT & Co LLC now owns 3,737 shares of the transportation company’s stock worth $1,515,000 after buying an additional 293 shares during the period. Ballentine Partners LLC boosted its holdings in Old Dominion Freight Line by 5.5% in the 4th quarter. Ballentine Partners LLC now owns 772 shares of the transportation company’s stock worth $313,000 after buying an additional 40 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Old Dominion Freight Line by 3.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 63,620 shares of the transportation company’s stock worth $26,138,000 after buying an additional 2,220 shares during the period. Fulton Bank N.A. boosted its holdings in Old Dominion Freight Line by 5.8% in the 4th quarter. Fulton Bank N.A. now owns 4,926 shares of the transportation company’s stock worth $1,997,000 after buying an additional 268 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $366,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other news, Director Thomas A. Stith III 550 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ODFL has been the subject of several analyst reports. Evercore ISI reaffirmed an “in-line” rating and issued a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Barclays cut their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Morgan Stanley cut their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Bank of America raised their price target on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, UBS Group raised their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $202.78.

Old Dominion Freight Line Trading Up 1.9 %

NASDAQ:ODFL traded up $3.60 during trading hours on Tuesday, reaching $197.86. The company’s stock had a trading volume of 1,535,382 shares, compared to its average volume of 1,628,449. The firm has a market capitalization of $42.99 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 3.92 and a beta of 1.00. The firm has a 50-day simple moving average of $184.06 and a 200-day simple moving average of $199.23. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Old Dominion Freight Line 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.