JPMorgan Chase & Co. Has $499.01 Million Position in Old Dominion Freight Line, Inc. $ODFL

JPMorgan Chase & Co. lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,544,588 shares of the transportation company’s stock after buying an additional 622,275 shares during the period. JPMorgan Chase & Co. owned about 1.69% of Old Dominion Freight Line worth $499,007,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ODFL. Financial Gravity Companies Inc. acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth approximately $28,000. Finally, Chilton Capital Management LLC purchased a new position in Old Dominion Freight Line during the second quarter valued at approximately $47,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ODFL. The Goldman Sachs Group reiterated a “buy” rating and issued a $195.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. Morgan Stanley reissued an “overweight” rating and set a $209.00 price objective (up previously from $190.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. Wolfe Research set a $138.00 target price on Old Dominion Freight Line in a research report on Thursday, January 8th. Finally, Wells Fargo & Company raised their price target on Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research note on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $189.88.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $193.81 on Thursday. The stock has a market capitalization of $40.53 billion, a P/E ratio of 40.13, a P/E/G ratio of 9.64 and a beta of 1.28. The business has a 50-day moving average of $173.61 and a two-hundred day moving average of $153.62. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $208.74.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned $1.23 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a $0.29 dividend. 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 dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is 23.19%.

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.