Perigon Wealth Management LLC Acquires 297 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Perigon Wealth Management LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,938 shares of the transportation company’s stock after buying an additional 297 shares during the period. Perigon Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth $45,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the period. Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $64,000. Northwest Investment Counselors LLC bought a new position in Old Dominion Freight Line in the 3rd quarter valued at about $67,000. Finally, Versant Capital Management Inc lifted its position in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ODFL. TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on 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. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group boosted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $202.44.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $185.61 on Friday. The company’s 50 day moving average price is $193.53 and its two-hundred day moving average price is $197.91. The firm has a market capitalization of $39.63 billion, a P/E ratio of 32.45, a P/E/G ratio of 4.96 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.90% of the company’s stock.

About Old Dominion Freight Line

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.