QRG Capital Management Inc. Boosts Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• QRG Capital Management boosted its position in Old Dominion Freight Line by 48% in Q4, owning 20,937 shares after buying 6,790 more, valued at about $3.28 million.
• Insiders sold 102,241 shares worth $19.87 million over the last three months (including Director Greg C. Gantt's sale of 22,107 shares for ~$4.23 million), and insiders now own 10% of the company.
• Operational and market snapshot: ODFL beat quarterly EPS estimates ($1.14 vs. $1.05) on $1.33 billion in revenue (down 2.9% y/y); the stock trades near $198 with an average analyst target of $206.46 and a consensus rating of "Hold."

QRG Capital Management Inc. grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 48.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,937 shares of the transportation company's stock after buying an additional 6,790 shares during the period. QRG Capital Management Inc.'s holdings in Old Dominion Freight Line were worth $3,283,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock valued at $27,000 after buying an additional 123 shares during the period. Westside Investment Management Inc. increased its stake in shares of Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock valued at $27,000 after buying an additional 98 shares during the period. Torren Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Raiffeisen Bank International AG purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at approximately $37,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $50,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company's stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares in the company, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 102,241 shares of company stock valued at $19,874,065. Insiders own 10.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Susquehanna reissued a "neutral" rating and set a $205.00 target price (up from $185.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 11th. Barclays set a $210.00 target price on Old Dominion Freight Line and gave the company an "equal weight" rating in a research note on Thursday, April 30th. BMO Capital Markets boosted their target price on Old Dominion Freight Line from $215.00 to $230.00 and gave the company an "outperform" rating in a research note on Monday. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Sunday, January 25th. Finally, The Goldman Sachs Group set a $216.00 price target on Old Dominion Freight Line and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $206.46.

Old Dominion Freight Line Stock Down 1.3%

Shares of ODFL stock opened at $198.06 on Friday. The stock has a market cap of $41.25 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 4.11 and a beta of 1.17. The business's fifty day moving average is $201.05 and its 200 day moving average is $174.68. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company's quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Old Dominion Freight Line 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.

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