JPMorgan Chase & Co. Sells 211,468 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

JPMorgan Chase & Co. lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,674,954 shares of the transportation company’s stock after selling 211,468 shares during the period. JPMorgan Chase & Co.’s holdings in Old Dominion Freight Line were worth $295,462,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Fiduciary Trust Co grew its stake in Old Dominion Freight Line by 14.8% during the 3rd quarter. Fiduciary Trust Co now owns 1,659 shares of the transportation company’s stock worth $330,000 after buying an additional 214 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Old Dominion Freight Line by 62.7% in the third quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company’s stock worth $1,443,000 after acquiring an additional 2,800 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Old Dominion Freight Line by 3.8% during the third quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock worth $301,000 after acquiring an additional 56 shares during the last quarter. Icon Wealth Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 38.2% during the third quarter. Icon Wealth Advisors LLC now owns 1,115 shares of the transportation company’s stock valued at $221,000 after acquiring an additional 308 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Old Dominion Freight Line by 1.7% in the 3rd quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock valued at $1,490,000 after purchasing an additional 124 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $164.85 on Monday. The company has a fifty day moving average of $182.63 and a two-hundred day moving average of $193.59. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The stock has a market capitalization of $35.04 billion, a PE ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

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

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Barclays reduced their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Truist Financial started coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price target on the stock. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $201.40.

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.