Stoneridge Investment Partners LLC purchased a new position in shares of Werner Enterprises Inc. (NASDAQ:WERN) during the second quarter, Holdings Channel reports. The institutional investor purchased 11,300 shares of the company’s stock, valued at approximately $260,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. M&T Bank Corp acquired a new position in shares of Werner Enterprises during the first quarter valued at $200,000. Pacad Investment Ltd. acquired a new position in shares of Werner Enterprises during the first quarter valued at $295,000. Creative Planning increased its position in shares of Werner Enterprises by 1.2% in the second quarter. Creative Planning now owns 16,500 shares of the company’s stock valued at $379,000 after buying an additional 200 shares during the period. BlackRock Inc. increased its position in shares of Werner Enterprises by 10.4% in the first quarter. BlackRock Inc. now owns 17,520 shares of the company’s stock valued at $476,000 after buying an additional 1,652 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Werner Enterprises during the second quarter valued at $494,000. Institutional investors and hedge funds own 64.80% of the company’s stock.
Werner Enterprises Inc. (NASDAQ:WERN) traded down 1.00% during trading on Friday, reaching $22.71. The company had a trading volume of 1,140,822 shares. Werner Enterprises Inc. has a 1-year low of $20.91 and a 1-year high of $28.80. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.33 and a beta of 0.86. The firm has a 50-day moving average of $23.52 and a 200-day moving average of $24.73.
Werner Enterprises (NASDAQ:WERN) last posted its earnings results on Thursday, July 21st. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $498.68 million for the quarter, compared to analyst estimates of $499.50 million. Werner Enterprises had a return on equity of 11.42% and a net margin of 5.24%. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, analysts anticipate that Werner Enterprises Inc. will post $1.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, September 29th. Werner Enterprises’s dividend payout ratio (DPR) is presently 16.22%.
WERN has been the topic of several research analyst reports. Barclays PLC boosted their target price on Werner Enterprises from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, September 12th. TheStreet downgraded Werner Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Werner Enterprises from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 24th. Deutsche Bank AG downgraded Werner Enterprises from a “buy” rating to a “hold” rating and dropped their target price for the stock from $29.00 to $22.00 in a research note on Tuesday, June 21st. Finally, Cowen and Company dropped their target price on Werner Enterprises from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Werner Enterprises currently has an average rating of “Hold” and a consensus price target of $27.06.
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. The Company operates through two segments: Truckload Transportation Services (Truckload) and Value Added Services (VAS).
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