State Street Corp Reduces Stake in Werner Enterprises, Inc. (NASDAQ:WERN)

State Street Corp lessened its position in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,544,776 shares of the transportation company’s stock after selling 19,210 shares during the quarter. State Street Corp’s holdings in Werner Enterprises were worth $98,203,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in shares of Werner Enterprises during the 2nd quarter valued at about $29,000. Canada Pension Plan Investment Board purchased a new position in shares of Werner Enterprises in the second quarter worth approximately $29,000. Quest Partners LLC bought a new stake in Werner Enterprises during the second quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in Werner Enterprises by 145.7% during the third quarter. GAMMA Investing LLC now owns 801 shares of the transportation company’s stock valued at $31,000 after buying an additional 475 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Werner Enterprises by 209.6% in the second quarter. Blue Trust Inc. now owns 1,158 shares of the transportation company’s stock worth $45,000 after acquiring an additional 784 shares during the period. Hedge funds and other institutional investors own 89.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Werner Enterprises from $36.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Morgan Stanley decreased their price objective on Werner Enterprises from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI reduced their target price on shares of Werner Enterprises from $35.00 to $32.00 and set an “in-line” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of Werner Enterprises from $37.00 to $34.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup began coverage on shares of Werner Enterprises in a research report on Wednesday, October 9th. They issued a “sell” rating and a $34.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Werner Enterprises presently has a consensus rating of “Hold” and a consensus target price of $36.57.

Werner Enterprises Stock Down 2.0 %

WERN opened at $38.83 on Monday. Werner Enterprises, Inc. has a 52 week low of $33.12 and a 52 week high of $43.26. The company has a quick ratio of 1.49, a current ratio of 1.53 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $38.83 and a two-hundred day simple moving average of $37.53. The company has a market capitalization of $2.40 billion, a PE ratio of 53.19, a price-to-earnings-growth ratio of 33.43 and a beta of 0.82.

Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.06). Werner Enterprises had a net margin of 1.48% and a return on equity of 3.58%. The firm had revenue of $745.70 million for the quarter, compared to analysts’ expectations of $765.24 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts forecast that Werner Enterprises, Inc. will post 0.68 earnings per share for the current fiscal year.

Werner Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, January 2nd. Werner Enterprises’s dividend payout ratio is presently 76.71%.

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.