New York State Teachers Retirement System lowered its stake in Werner Enterprises, Inc. (NASDAQ:WERN – Free Report) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,684 shares of the transportation company’s stock after selling 6,221 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Werner Enterprises worth $1,633,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Werner Enterprises by 163.5% in the first quarter. Brooklyn Investment Group now owns 959 shares of the transportation company’s stock worth $28,000 after acquiring an additional 595 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Werner Enterprises by 306.9% during the second quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company’s stock valued at $35,000 after buying an additional 976 shares during the period. GAMMA Investing LLC boosted its position in shares of Werner Enterprises by 413.1% during the second quarter. GAMMA Investing LLC now owns 2,191 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,764 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Werner Enterprises by 15.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company’s stock valued at $86,000 after buying an additional 402 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of Werner Enterprises during the second quarter valued at approximately $225,000. Hedge funds and other institutional investors own 89.32% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on WERN. Stifel Nicolaus dropped their target price on Werner Enterprises from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, October 3rd. Weiss Ratings lowered Werner Enterprises from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on Werner Enterprises from $29.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, October 8th. Bank of America dropped their target price on Werner Enterprises from $27.00 to $26.00 and set an “underperform” rating for the company in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company dropped their target price on Werner Enterprises from $25.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, October 6th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $27.57.
Werner Enterprises Stock Performance
Werner Enterprises stock opened at $28.35 on Thursday. The company has a 50 day moving average price of $27.83 and a 200-day moving average price of $27.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.63 and a current ratio of 1.67. Werner Enterprises, Inc. has a fifty-two week low of $23.02 and a fifty-two week high of $42.48. The company has a market capitalization of $1.70 billion, a PE ratio of 32.97, a P/E/G ratio of 1.71 and a beta of 1.06.
Werner Enterprises (NASDAQ:WERN – Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $753.15 million during the quarter, compared to the consensus estimate of $736.09 million. Werner Enterprises had a net margin of 1.77% and a return on equity of 0.92%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts forecast that Werner Enterprises, Inc. will post 1.27 earnings per share for the current year.
Werner Enterprises Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Monday, October 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. Werner Enterprises’s payout ratio is 65.12%.
Werner Enterprises declared that its Board of Directors has approved a share repurchase program on Monday, August 11th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Werner Enterprises Profile
Werner Enterprises, Inc, together with its subsidiaries, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. The company operates through two segments, Truckload Transportation Services and Werner Logistics.
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