Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,413 shares of the transportation company’s stock after acquiring an additional 138 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Old Dominion Freight Line were worth $5,031,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Old Dominion Freight Line by 11.0% in 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 buying an additional 251,289 shares during the period. Invesco Ltd. lifted its holdings in Old Dominion Freight Line by 1.3% in the 3rd quarter. Invesco Ltd. now owns 1,397,382 shares of the transportation company’s stock valued at $571,725,000 after purchasing an additional 18,418 shares in the last quarter. Norges Bank purchased a new position in Old Dominion Freight Line in the 4th quarter valued at about $495,387,000. Northern Trust Corp lifted its holdings in Old Dominion Freight Line by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,015,481 shares of the transportation company’s stock valued at $415,474,000 after purchasing an additional 52,963 shares in the last quarter. Finally, Morgan Stanley lifted its holdings 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 worth $393,397,000 after acquiring an additional 68,960 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $173.06 on Friday. The stock has a market capitalization of $37.60 billion, a PE ratio of 30.47, a P/E/G ratio of 2.17 and a beta of 1.07. 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 business has a fifty day moving average price of $205.50 and a two-hundred day moving average price of $204.08. Old Dominion Freight Line, Inc. has a fifty-two week low of $149.00 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 6.02 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ODFL shares. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. decreased 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. Raymond James raised their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. UBS Group raised their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Monday, April 29th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $209.08.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.90% of the company’s stock.

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.