Bank of New York Mellon Corp lessened its stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 5.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,454,555 shares of the transportation company’s stock after selling 188,031 shares during the quarter. Bank of New York Mellon Corp owned about 4.78% of Werner Enterprises worth $126,265,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. LS Investment Advisors LLC lifted its position in Werner Enterprises by 17.2% in the second quarter. LS Investment Advisors LLC now owns 3,636 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 533 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Werner Enterprises by 2.7% during the first quarter. Public Employees Retirement System of Ohio now owns 6,257 shares of the transportation company’s stock valued at $164,000 after buying an additional 163 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Werner Enterprises during the third quarter valued at approximately $203,000. Royal Bank of Canada grew its stake in Werner Enterprises by 190.5% in the second quarter. Royal Bank of Canada now owns 7,430 shares of the transportation company’s stock worth $218,000 after purchasing an additional 4,872 shares during the period. Finally, Thrivent Financial For Lutherans grew its stake in Werner Enterprises by 11.5% in the first quarter. Thrivent Financial For Lutherans now owns 8,530 shares of the transportation company’s stock worth $223,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 64.78% of the company’s stock.
Shares of Werner Enterprises, Inc. (NASDAQ:WERN) traded up $0.70 during mid-day trading on Friday, reaching $38.90. The company had a trading volume of 800,215 shares, compared to its average volume of 810,360. 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 stock has a market cap of $2,712.64, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.10 and a beta of 0.97. Werner Enterprises, Inc. has a 1 year low of $24.20 and a 1 year high of $38.95.
Werner Enterprises (NASDAQ:WERN) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The company had revenue of $528.64 million during the quarter, compared to analyst estimates of $532.48 million. Werner Enterprises had a net margin of 4.04% and a return on equity of 8.18%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. sell-side analysts predict that Werner Enterprises, Inc. will post 1.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.72%. Werner Enterprises’s payout ratio is 24.35%.
A number of equities research analysts have recently commented on the company. BidaskClub raised Werner Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Stephens raised Werner Enterprises from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $36.00 in a report on Monday, August 14th. Morgan Stanley increased their target price on Werner Enterprises from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 20th. Bank of America downgraded Werner Enterprises from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $35.00 to $33.00 in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded Werner Enterprises from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.73.
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 stock was sold at an average price of $35.26, for a total transaction of $617,050.00. Following the completion of the sale, the chief executive officer now directly owns 211,280 shares in the company, valued at approximately $7,449,732.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. 34.70% of the stock is currently owned by insiders.
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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