Pflug Koory LLC reduced its stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,980 shares of the transportation company’s stock after selling 575 shares during the quarter. Pflug Koory LLC’s holdings in Werner Enterprises were worth $497,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Werner Enterprises by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,276,525 shares of the transportation company’s stock valued at $155,871,000 after acquiring an additional 81,429 shares in the last quarter. Pinnacle Associates Ltd. raised its position in Werner Enterprises by 3.3% during the first quarter. Pinnacle Associates Ltd. now owns 713,767 shares of the transportation company’s stock valued at $24,375,000 after acquiring an additional 22,559 shares in the last quarter. Federated Investors Inc. PA raised its position in Werner Enterprises by 53.7% during the first quarter. Federated Investors Inc. PA now owns 572,948 shares of the transportation company’s stock valued at $19,566,000 after acquiring an additional 200,088 shares in the last quarter. Geode Capital Management LLC raised its position in Werner Enterprises by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 527,516 shares of the transportation company’s stock valued at $15,582,000 after acquiring an additional 26,459 shares in the last quarter. Finally, Norges Bank purchased a new position in Werner Enterprises during the fourth quarter valued at approximately $14,090,000. Institutional investors own 67.13% of the company’s stock.
WERN traded up $0.82 during trading on Friday, hitting $31.39. The company’s stock had a trading volume of 16,059 shares, compared to its average volume of 784,044. The company has a current ratio of 1.98, a quick ratio of 1.94 and a debt-to-equity ratio of 0.38. Werner Enterprises, Inc. has a twelve month low of $27.27 and a twelve month high of $40.80. The business’s fifty day simple moving average is $31.72 and its 200 day simple moving average is $32.71. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.50 and a beta of 1.22.
Werner Enterprises (NASDAQ:WERN) last issued its quarterly earnings data on Thursday, July 25th. The transportation company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $627.53 million during the quarter, compared to analyst estimates of $634.67 million. Werner Enterprises had a net margin of 7.26% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, equities research analysts forecast that Werner Enterprises, Inc. will post 2.45 earnings per share for the current fiscal year.
Several brokerages recently weighed in on WERN. BidaskClub cut Werner Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley dropped their price objective on Werner Enterprises from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Stephens initiated coverage on Werner Enterprises in a report on Monday, July 1st. They issued a “buy” rating on the stock. Buckingham Research raised their price objective on Werner Enterprises from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Cowen reissued a “market perform” rating and issued a $36.00 price objective (up from $35.00) on shares of Werner Enterprises in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.55.
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, and China. It operates in two segments, Truckload Transportation Services and Werner Logistics.
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