Werner Enterprises, Inc. (WERN) Stake Increased by Wells Fargo & Company MN
Wells Fargo & Company MN grew its stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,401 shares of the transportation company’s stock after purchasing an additional 11,620 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of Werner Enterprises worth $3,621,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Werner Enterprises during the first quarter valued at $1,037,000. BNP Paribas Arbitrage SA lifted its stake in Werner Enterprises by 108.8% in the second quarter. BNP Paribas Arbitrage SA now owns 25,567 shares of the transportation company’s stock worth $750,000 after acquiring an additional 13,323 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Werner Enterprises by 21.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 53,482 shares of the transportation company’s stock worth $1,570,000 after acquiring an additional 9,462 shares during the period. Engineers Gate Manager LP purchased a new stake in Werner Enterprises in the second quarter worth about $1,202,000. Finally, Geode Capital Management LLC lifted its stake in Werner Enterprises by 4.6% in the first quarter. Geode Capital Management LLC now owns 368,735 shares of the transportation company’s stock worth $9,660,000 after acquiring an additional 16,281 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.
Werner Enterprises, Inc. (WERN) opened at 34.20 on Tuesday. The company has a market capitalization of $2.47 billion, a P/E ratio of 31.09 and a beta of 0.90. The firm has a 50-day moving average of $34.83 and a 200-day moving average of $29.90. Werner Enterprises, Inc. has a one year low of $21.45 and a one year high of $37.00.
Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings data on Monday, July 24th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $521.63 million. Werner Enterprises had a return on equity of 7.97% and a net margin of 3.90%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, analysts anticipate that Werner Enterprises, Inc. will post $1.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 2nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, September 29th. Werner Enterprises’s payout ratio is presently 25.45%.
In other news, CEO Derek J. Leathers sold 12,756 shares of Werner Enterprises stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $30.00, for a total value of $382,680.00. Following the completion of the transaction, the chief executive officer now owns 241,536 shares in the company, valued at approximately $7,246,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Derek J. Leathers sold 12,244 shares of Werner Enterprises stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $30.02, for a total value of $367,564.88. Following the completion of the transaction, the chief executive officer now 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 50,000 shares of company stock valued at $1,593,570 in the last quarter. Company insiders own 34.70% of the company’s stock.
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A number of analysts recently weighed in on the stock. Cowen and Company lowered shares of Werner Enterprises from a “market perform” rating to an “underperform” rating in a research note on Monday. Barclays PLC upped their price objective on shares of Werner Enterprises from $25.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, October 2nd. Bank of America Corporation lowered shares of Werner Enterprises from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $35.00 to $33.00 in a research note on Tuesday, October 10th. J P Morgan Chase & Co upped their price objective on shares of Werner Enterprises from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Finally, BidaskClub raised shares of Werner Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.00.
Werner Enterprises Company 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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