Wellington Management Group LLP cut its position in Werner Enterprises, Inc. (NASDAQ:WERN) by 47.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 74,854 shares of the transportation company’s stock after selling 67,144 shares during the period. Wellington Management Group LLP owned 0.10% of Werner Enterprises worth $1,961,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans acquired a new position in shares of Werner Enterprises during the fourth quarter worth about $206,000. Oxford Asset Management acquired a new position in shares of Werner Enterprises during the first quarter worth about $276,000. Princeton Alpha Management LP acquired a new position in shares of Werner Enterprises during the first quarter worth about $291,000. Louisiana State Employees Retirement System boosted its position in shares of Werner Enterprises by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the transportation company’s stock worth $296,000 after buying an additional 300 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Werner Enterprises by 15.9% in the first quarter. US Bancorp DE now owns 13,599 shares of the transportation company’s stock worth $356,000 after buying an additional 1,867 shares in the last quarter. 66.41% of the stock is currently owned by hedge funds and other institutional investors.
Werner Enterprises, Inc. (NASDAQ WERN) opened at 29.55 on Tuesday. Werner Enterprises, Inc. has a 1-year low of $21.45 and a 1-year high of $30.80. The company’s 50 day moving average is $27.91 and its 200-day moving average is $27.26. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 28.69 and a beta of 0.87.
Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Thursday, April 20th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Werner Enterprises had a net margin of 3.70% and a return on equity of 7.61%. The company had revenue of $501.22 million for the quarter, compared to analyst estimates of $491.97 million. During the same period in the prior year, the business earned $0.28 earnings per share. Werner Enterprises’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that Werner Enterprises, Inc. will post $1.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Wednesday, July 5th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Werner Enterprises’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, June 30th. Werner Enterprises’s dividend payout ratio is presently 27.18%.
WERN has been the topic of several analyst reports. Bank of America Corporation restated an “underperform” rating and issued a $30.00 price target (up previously from $25.00) on shares of Werner Enterprises in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Werner Enterprises from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Deutsche Bank AG restated a “hold” rating and issued a $25.00 price target (down previously from $31.00) on shares of Werner Enterprises in a research note on Sunday, April 23rd. Barclays PLC dropped their price target on shares of Werner Enterprises from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, March 27th. Finally, TheStreet lowered shares of Werner Enterprises from a “b” rating to a “c+” rating in a research note on Friday, May 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.44.
In other news, VP Jim S. Schelble sold 7,494 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $29.50, for a total transaction of $221,073.00. Following the transaction, the vice president now directly owns 55,300 shares in the company, valued at $1,631,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 34.80% of the stock is currently owned by corporate insiders.
About Werner Enterprises
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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