Verition Fund Management LLC bought a new position in shares of Werner Enterprises, Inc. (NASDAQ:WERN – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,231 shares of the transportation company's stock, valued at approximately $296,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Nauset Wealth Management. LLC acquired a new position in shares of Werner Enterprises during the first quarter worth $48,000. Covestor Ltd grew its position in shares of Werner Enterprises by 92.3% in the 1st quarter. Covestor Ltd now owns 2,387 shares of the transportation company's stock valued at $98,000 after buying an additional 1,146 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Werner Enterprises by 50.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,447 shares of the transportation company's stock valued at $100,000 after buying an additional 825 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Werner Enterprises during the first quarter worth about $146,000. Finally, Profund Advisors LLC boosted its holdings in Werner Enterprises by 11.4% in the first quarter. Profund Advisors LLC now owns 5,299 shares of the transportation company's stock valued at $217,000 after acquiring an additional 541 shares during the last quarter. 86.50% of the stock is owned by institutional investors.
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Insider Activity
In related news, Director Carmen A. Tapio bought 1,170 shares of the business's stock in a transaction that occurred on Thursday, August 11th. The shares were bought at an average price of $42.20 per share, with a total value of $49,374.00. Following the completion of the transaction, the director now directly owns 6,284 shares in the company, valued at $265,184.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on WERN. Evercore ISI raised their price target on shares of Werner Enterprises to $43.00 in a report on Tuesday, August 9th. Barclays lowered their price objective on Werner Enterprises from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday, July 12th. Susquehanna upped their target price on Werner Enterprises from $47.00 to $50.00 in a research report on Thursday, August 4th. JPMorgan Chase & Co. lifted their target price on Werner Enterprises from $42.00 to $43.00 and gave the stock a "neutral" rating in a report on Tuesday, July 12th. Finally, UBS Group cut their price target on Werner Enterprises from $49.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $46.31.
Werner Enterprises Stock Performance
Shares of WERN stock opened at $38.26 on Monday. Werner Enterprises, Inc. has a 12 month low of $36.29 and a 12 month high of $48.79. The firm has a market capitalization of $2.43 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The firm has a fifty day simple moving average of $41.21 and a two-hundred day simple moving average of $40.36. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33.
Werner Enterprises (NASDAQ:WERN – Get Rating) last posted its earnings results on Wednesday, August 3rd. The transportation company reported $0.87 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.15). Werner Enterprises had a return on equity of 18.66% and a net margin of 8.69%. The business had revenue of $836.28 million for the quarter, compared to the consensus estimate of $784.22 million. Analysts forecast that Werner Enterprises, Inc. will post 3.92 EPS for the current fiscal year.
Werner Enterprises Announces Dividend
The business also recently disclosed 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. This represents a $0.52 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, September 30th. Werner Enterprises's dividend payout ratio (DPR) is presently 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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