The Manufacturers Life Insurance Company raised its stake in Werner Enterprises, Inc. (NASDAQ:WERN) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 101,423 shares of the transportation company’s stock after purchasing an additional 3,237 shares during the period. The Manufacturers Life Insurance Company owned 0.14% of Werner Enterprises worth $2,977,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WERN. BlackRock Inc. increased its position in shares of Werner Enterprises by 17,543.9% in the 1st quarter. BlackRock Inc. now owns 4,617,064 shares of the transportation company’s stock worth $120,967,000 after purchasing an additional 4,590,896 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Werner Enterprises by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,642,586 shares of the transportation company’s stock worth $106,910,000 after purchasing an additional 426,376 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Werner Enterprises by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 3,644,333 shares of the transportation company’s stock worth $95,481,000 after purchasing an additional 242,284 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Werner Enterprises by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,451,128 shares of the transportation company’s stock worth $159,992,000 after purchasing an additional 194,294 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of Werner Enterprises by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,956,186 shares of the transportation company’s stock valued at $57,414,000 after buying an additional 60,373 shares during the period. 64.64% of the stock is owned by institutional investors.
In other Werner Enterprises news, CEO Derek J. Leathers sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $35.26, for a total value of $617,050.00. Following the completion of the sale, the chief executive officer now directly owns 211,280 shares of the company’s stock, valued at $7,449,732.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 34.70% of the company’s stock.
WERN has been the subject of several research reports. Buckingham Research initiated coverage on shares of Werner Enterprises in a report on Monday, August 21st. They issued a “buy” rating and a $36.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Werner Enterprises from $29.00 to $35.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Credit Suisse Group reduced their target price on shares of Werner Enterprises from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Deutsche Bank AG reissued a “hold” rating and set a $32.00 target price (up from $25.00) on shares of Werner Enterprises in a research note on Wednesday, August 9th. Finally, Cowen and Company boosted their target price on shares of Werner Enterprises from $27.00 to $31.00 and gave the company a “market perform” rating in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.73.
Shares of Werner Enterprises, Inc. (NASDAQ:WERN) opened at $35.05 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.73 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2,607.75, a PE ratio of 31.35, a P/E/G ratio of 2.02 and a beta of 0.96.
Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). Werner Enterprises had a net margin of 4.04% and a return on equity of 8.18%. The company had revenue of $528.64 million for the quarter, compared to analysts’ expectations of $532.48 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. equities research analysts forecast that Werner Enterprises, Inc. will post 1.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Monday, October 2nd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, September 29th. Werner Enterprises’s payout ratio is presently 24.35%.
Werner Enterprises Profile
Werner Enterprises, Inc is a transportation and logistics company. The Company is engaged in transporting truckload shipments of general commodities in both interstate and intrastate commerce. It operates through two segments: Truckload and Werner Logistics. It provides logistics services through its Werner Logistics division.
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