HITE Hedge Asset Management LLC Makes New $1.84 Million Investment in Werner Enterprises, Inc. (NASDAQ:WERN)

HITE Hedge Asset Management LLC purchased a new stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 51,198 shares of the transportation company's stock, valued at approximately $1,839,000. HITE Hedge Asset Management LLC owned 0.08% of Werner Enterprises as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in Werner Enterprises by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 6,168 shares of the transportation company's stock worth $222,000 after buying an additional 274 shares in the last quarter. Keybank National Association OH boosted its stake in Werner Enterprises by 1.5% in the fourth quarter. Keybank National Association OH now owns 20,216 shares of the transportation company's stock valued at $726,000 after acquiring an additional 305 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Werner Enterprises by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 53,495 shares of the transportation company's stock worth $1,922,000 after buying an additional 359 shares during the period. Bank of Montreal Can raised its position in Werner Enterprises by 7.7% in the 4th quarter. Bank of Montreal Can now owns 6,761 shares of the transportation company's stock valued at $243,000 after purchasing an additional 485 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Werner Enterprises by 64.7% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the transportation company's stock worth $50,000 after purchasing an additional 514 shares during the period. Institutional investors and hedge funds own 89.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WERN. StockNews.com cut shares of Werner Enterprises from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their price objective on Werner Enterprises from $36.00 to $28.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus reduced their price target on Werner Enterprises from $35.00 to $29.00 and set a "hold" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on Werner Enterprises in a research report on Friday, March 7th. They issued a "hold" rating and a $33.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on shares of Werner Enterprises from $34.00 to $27.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $34.07.

Werner Enterprises Trading Up 0.1 %

Shares of NASDAQ:WERN traded up $0.04 during trading on Wednesday, reaching $28.54. 324,753 shares of the stock were exchanged, compared to its average volume of 797,429. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 51.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.52. The firm's 50-day moving average price is $30.30 and its 200 day moving average price is $35.04. Werner Enterprises, Inc. has a 12-month low of $26.50 and a 12-month high of $42.48.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.15). Werner Enterprises had a return on equity of 2.27% and a net margin of 1.13%. On average, sell-side analysts anticipate that Werner Enterprises, Inc. will post 1.27 earnings per share for the current fiscal year.

Werner Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.96%. Werner Enterprises's dividend payout ratio (DPR) is presently 101.82%.

Werner Enterprises Company 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.