Moody National Bank Trust Division trimmed its stake in Werner Enterprises, Inc. (NASDAQ:WERN – Get Rating) by 52.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,566 shares of the transportation company's stock after selling 15,975 shares during the quarter. Moody National Bank Trust Division's holdings in Werner Enterprises were worth $562,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in WERN. LSV Asset Management lifted its position in shares of Werner Enterprises by 44.6% in the first quarter. LSV Asset Management now owns 2,533,769 shares of the transportation company's stock valued at $103,885,000 after buying an additional 781,750 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Werner Enterprises by 2,103.2% in the first quarter. Renaissance Technologies LLC now owns 400,163 shares of the transportation company's stock valued at $16,407,000 after buying an additional 382,000 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Werner Enterprises by 120.9% in the first quarter. Jane Street Group LLC now owns 45,529 shares of the transportation company's stock valued at $1,867,000 after buying an additional 263,296 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Werner Enterprises by 48.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 767,340 shares of the transportation company's stock valued at $32,382,000 after buying an additional 252,171 shares during the last quarter. Finally, State Street Corp lifted its holdings in Werner Enterprises by 10.7% during the 4th quarter. State Street Corp now owns 2,329,821 shares of the transportation company's stock worth $111,317,000 after purchasing an additional 225,736 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several analysts recently weighed in on WERN shares. Barclays dropped their price target on Werner Enterprises from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, July 12th. Cowen lifted their price target on Werner Enterprises to $47.00 in a report on Tuesday, August 9th. Susquehanna Bancshares lifted their price target on Werner Enterprises from $47.00 to $50.00 in a report on Thursday, August 4th. Wells Fargo & Company lifted their price target on Werner Enterprises from $38.00 to $43.00 and gave the stock an "equal weight" rating in a report on Friday, July 15th. Finally, Susquehanna lifted their price target on Werner Enterprises from $47.00 to $50.00 in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.31.
Insider Activity
In other Werner Enterprises news, Director Carmen A. Tapio purchased 1,170 shares of the firm's stock in a transaction dated Thursday, August 11th. The shares were bought at an average price of $42.20 per share, for a total transaction of $49,374.00. Following the purchase, the director now owns 6,284 shares in the company, valued at approximately $265,184.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.91% of the company's stock.
Werner Enterprises Trading Down 2.0 %
Shares of WERN opened at $38.65 on Monday. Werner Enterprises, Inc. has a 52-week low of $36.29 and a 52-week high of $48.79. The business's fifty day moving average is $41.31 and its 200-day moving average is $40.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 1.64. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 2.19 and a beta of 0.82.
Werner Enterprises Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 3rd will be paid a $0.13 dividend. The ex-dividend date is Friday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.35%. Werner Enterprises's payout ratio is 12.90%.
About Werner Enterprises
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Werner Enterprises, Inc, a transportation and logistics company, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. It operates through Truckload Transportation Services and Werner Logistics segments.
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