Chesley Taft & Associates LLC Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chesley Taft & Associates LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 106.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,660 shares of the transportation company’s stock after buying an additional 7,045 shares during the period. Chesley Taft & Associates LLC’s holdings in Old Dominion Freight Line were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after buying an additional 81,122 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Old Dominion Freight Line by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Old Dominion Freight Line by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after purchasing an additional 12,016 shares in the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $495,387,000. Finally, Morgan Stanley grew its position in shares of Old Dominion Freight Line by 7.7% during the 3rd quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock valued at $393,397,000 after purchasing an additional 68,960 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ODFL. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Evercore ISI reaffirmed an “in-line” rating and set a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday. UBS Group lifted their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. Finally, Raymond James dropped their price objective on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $201.18.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $175.90 on Friday. 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 current ratio of 2.29 and a quick ratio of 2.29. The company’s 50-day moving average is $179.83 and its 200 day moving average is $200.11. The stock has a market capitalization of $38.22 billion, a P/E ratio of 30.70, a P/E/G ratio of 2.29 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Old Dominion Freight Line Company 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.