Victory Capital Management Inc. Lowers Stake in Werner Enterprises, Inc. (WERN)
Victory Capital Management Inc. reduced its stake in Werner Enterprises, Inc. (NASDAQ:WERN) by 0.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,969,648 shares of the transportation company’s stock after selling 6,922 shares during the period. Victory Capital Management Inc. owned about 2.73% of Werner Enterprises worth $57,809,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of WERN. BlackRock Inc. boosted its stake in shares of Werner Enterprises by 17,543.9% in the first quarter. BlackRock Inc. now owns 4,617,064 shares of the transportation company’s stock valued at $120,967,000 after buying an additional 4,590,896 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Werner Enterprises by 13.3% in the second quarter. Bank of New York Mellon Corp now owns 3,642,586 shares of the transportation company’s stock valued at $106,910,000 after buying an additional 426,376 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Werner Enterprises by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,256,834 shares of the transportation company’s stock valued at $137,729,000 after buying an additional 342,947 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Werner Enterprises during the first quarter valued at about $7,715,000. Finally, Vanguard Group Inc. boosted its stake in shares of Werner Enterprises by 7.1% in the first quarter. Vanguard Group Inc. now owns 3,644,333 shares of the transportation company’s stock valued at $95,481,000 after buying an additional 242,284 shares during the period. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Werner Enterprises, Inc. (WERN) opened at 31.80 on Monday. Werner Enterprises, Inc. has a 12 month low of $21.45 and a 12 month high of $32.45. The firm’s 50 day moving average price is $30.12 and its 200 day moving average price is $28.03. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 28.91 and a beta of 0.88.
Werner Enterprises (NASDAQ:WERN) last issued its quarterly earnings results on Monday, July 24th. The transportation company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Werner Enterprises had a net margin of 3.90% and a return on equity of 7.97%. The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $521.63 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. Werner Enterprises’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Werner Enterprises, Inc. will post $1.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Monday, October 2nd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, September 29th. Werner Enterprises’s dividend payout ratio (DPR) is 25.45%.
WERN has been the topic of several research reports. Zacks Investment Research cut Werner Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. BidaskClub raised Werner Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Cowen and Company lifted their target price on Werner Enterprises from $27.00 to $31.00 and gave the stock a “market perform” rating in a report on Tuesday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $32.00 target price (up from $30.00) on shares of Werner Enterprises in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised Werner Enterprises from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $32.00 in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.83.
In other news, VP Jim S. Schelble sold 7,494 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $29.50, for a total value of $221,073.00. Following the completion of the sale, the vice president now owns 55,300 shares of the company’s stock, valued at $1,631,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Derek J. Leathers sold 12,756 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $30.00, for a total transaction of $382,680.00. Following the completion of the sale, the chief executive officer now directly owns 241,536 shares of the company’s stock, valued at approximately $7,246,080. The disclosure for this sale can be found here. Insiders have sold 39,994 shares of company stock valued at $1,197,593 in the last ninety days. 34.70% of the stock is currently owned by company insiders.
About Werner Enterprises
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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