Cherokee Insurance Co Purchases Shares of 23,056 Werner Enterprises, Inc. $WERN

Cherokee Insurance Co acquired a new position in Werner Enterprises, Inc. (NASDAQ:WERN) in the second quarter, HoldingsChannel reports. The institutional investor acquired 23,056 shares of the transportation company’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WERN. Brooklyn Investment Group increased its stake in Werner Enterprises by 163.5% in the 1st quarter. Brooklyn Investment Group now owns 959 shares of the transportation company’s stock worth $28,000 after buying an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Werner Enterprises by 57.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,018 shares of the transportation company’s stock worth $28,000 after purchasing an additional 373 shares in the last quarter. Fifth Third Bancorp raised its stake in Werner Enterprises by 306.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC lifted its holdings in Werner Enterprises by 413.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,191 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,764 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Werner Enterprises by 15.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company’s stock worth $86,000 after purchasing an additional 402 shares during the period. 89.32% of the stock is currently owned by institutional investors.

Werner Enterprises Trading Up 1.3%

Shares of NASDAQ WERN opened at $25.15 on Thursday. Werner Enterprises, Inc. has a 1-year low of $23.02 and a 1-year high of $41.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.67 and a quick ratio of 1.63. The business’s 50 day moving average is $27.14 and its two-hundred day moving average is $27.46. The stock has a market capitalization of $1.50 billion, a P/E ratio of 29.24, a PEG ratio of 1.59 and a beta of 1.04.

Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Thursday, October 30th. The transportation company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18). The company had revenue of $712.04 million during the quarter, compared to analysts’ expectations of $763.63 million. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.Werner Enterprises’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. As a group, research analysts expect that Werner Enterprises, Inc. will post 1.27 EPS for the current year.

Werner Enterprises announced that its board has initiated a stock buyback program on Monday, August 11th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WERN shares. JPMorgan Chase & Co. reduced their price objective on shares of Werner Enterprises from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Susquehanna reduced their price target on shares of Werner Enterprises from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. UBS Group dropped their price objective on shares of Werner Enterprises from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Stifel Nicolaus cut their price objective on Werner Enterprises from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, October 3rd. Finally, Wells Fargo & Company decreased their target price on Werner Enterprises from $25.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, October 6th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Werner Enterprises presently has a consensus rating of “Reduce” and a consensus price target of $26.93.

Werner Enterprises Profile

Werner Enterprises, Inc, together with its subsidiaries, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. The company operates through two segments, Truckload Transportation Services and Werner Logistics.