Werner Enterprises, Inc. (WERN) Stake Reduced by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan reduced its position in Werner Enterprises, Inc. (NASDAQ:WERN) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,900 shares of the transportation company’s stock after selling 3,340 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Werner Enterprises were worth $496,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Werner Enterprises during the fourth quarter worth about $6,683,000. Teachers Advisors LLC raised its position in shares of Werner Enterprises by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 72,433 shares of the transportation company’s stock worth $1,952,000 after buying an additional 2,000 shares during the period. Louisiana State Employees Retirement System raised 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 during the period. Speece Thorson Capital Group Inc. raised its position in shares of Werner Enterprises by 2.9% in the first quarter. Speece Thorson Capital Group Inc. now owns 579,956 shares of the transportation company’s stock worth $15,195,000 after buying an additional 16,549 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Werner Enterprises by 6.9% in the first quarter. Russell Investments Group Ltd. now owns 96,150 shares of the transportation company’s stock worth $2,519,000 after buying an additional 6,200 shares during the period. 64.34% of the stock is owned by institutional investors and hedge funds.
Shares of Werner Enterprises, Inc. (NASDAQ WERN) opened at 31.10 on Tuesday. The stock’s 50 day moving average price is $29.93 and its 200 day moving average price is $27.93. Werner Enterprises, Inc. has a 1-year low of $21.45 and a 1-year high of $32.45. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 28.27 and a beta of 0.88.
Werner Enterprises (NASDAQ:WERN) last released its earnings results on Monday, July 24th. The transportation company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Werner Enterprises had a net margin of 3.90% and a return on equity of 7.97%. The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $521.63 million. During the same quarter in the previous year, the business earned $0.25 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts expect that Werner Enterprises, Inc. will post $1.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, September 29th. Werner Enterprises’s dividend payout ratio (DPR) is 25.45%.
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A number of equities analysts recently issued reports on WERN shares. Zacks Investment Research raised Werner Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. TheStreet lowered Werner Enterprises from a “b” rating to a “c+” rating in a report on Friday, May 19th. BidaskClub raised Werner Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. UBS AG raised Werner Enterprises from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $26.00 to $30.00 in a report on Monday, July 10th. Finally, Bank of America Corporation reissued an “underperform” rating and issued a $30.00 price objective (up from $25.00) on shares of Werner Enterprises in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.83.
In other news, VP Jim S. Schelble sold 7,494 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $29.50, for a total value of $221,073.00. Following the completion of the transaction, the vice president now owns 55,300 shares of the company’s stock, valued at approximately $1,631,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Derek J. Leathers sold 12,244 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.02, for a total transaction of $367,564.88. Following the completion of the transaction, the chief executive officer now directly owns 228,780 shares of the company’s stock, valued at approximately $6,867,975.60. The disclosure for this sale can be found here. Insiders sold a total of 39,994 shares of company stock valued at $1,197,593 in the last three months. 34.80% of the stock is owned by company 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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