Northern Trust Corp Has $30.04 Million Stake in Werner Enterprises, Inc. (WERN)
Northern Trust Corp lifted its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 799,941 shares of the transportation company’s stock after buying an additional 88,619 shares during the period. Northern Trust Corp owned about 1.12% of Werner Enterprises worth $30,038,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Werner Enterprises by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,984,025 shares of the transportation company’s stock worth $112,051,000 after acquiring an additional 110,615 shares during the period. Green Square Capital LLC acquired a new stake in shares of Werner Enterprises in the 2nd quarter worth approximately $304,000. WINTON GROUP Ltd acquired a new stake in shares of Werner Enterprises in the 2nd quarter worth approximately $4,809,000. NorthCoast Asset Management LLC grew its holdings in shares of Werner Enterprises by 92.7% in the 2nd quarter. NorthCoast Asset Management LLC now owns 90,758 shares of the transportation company’s stock worth $3,408,000 after acquiring an additional 43,670 shares during the period. Finally, Putnam Investments LLC acquired a new stake in shares of Werner Enterprises in the 2nd quarter worth approximately $3,811,000. 68.62% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research restated a “buy” rating and issued a $45.00 price target on shares of Werner Enterprises in a report on Saturday, June 30th. Stifel Nicolaus set a $44.00 price target on Werner Enterprises and gave the stock a “hold” rating in a report on Friday. Morgan Stanley set a $48.00 price target on Werner Enterprises and gave the stock a “buy” rating in a report on Monday. ValuEngine upgraded Werner Enterprises from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Finally, BidaskClub cut Werner Enterprises from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.67.
Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Thursday, October 18th. The transportation company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The firm had revenue of $629.70 million for the quarter, compared to analysts’ expectations of $628.71 million. Werner Enterprises had a return on equity of 12.34% and a net margin of 10.71%. Werner Enterprises’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, equities research analysts forecast that Werner Enterprises, Inc. will post 2.29 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 16th. Shareholders of record on Monday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, September 28th. Werner Enterprises’s dividend payout ratio (DPR) is presently 28.35%.
About Werner Enterprises
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, Canada, China, and Australia. It operates through two segments, Truckload Transportation Services and Werner Logistics.
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