Principal Financial Group Inc. reduced its stake in Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,602 shares of the transportation company's stock after selling 21,487 shares during the period. Principal Financial Group Inc. owned 0.47% of Werner Enterprises worth $11,253,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of Werner Enterprises in the second quarter valued at about $29,000. Quest Partners LLC bought a new position in Werner Enterprises during the 2nd quarter worth about $30,000. GAMMA Investing LLC increased its position in Werner Enterprises by 145.7% during the 3rd quarter. GAMMA Investing LLC now owns 801 shares of the transportation company's stock valued at $31,000 after purchasing an additional 475 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Werner Enterprises by 2,390.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,544 shares of the transportation company's stock valued at $60,000 after purchasing an additional 1,482 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Werner Enterprises by 43.1% in the 3rd quarter. KBC Group NV now owns 2,071 shares of the transportation company's stock worth $80,000 after purchasing an additional 624 shares during the period. 89.32% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
WERN has been the topic of several research reports. Susquehanna cut their price objective on shares of Werner Enterprises from $30.00 to $28.00 and set a "negative" rating on the stock in a report on Friday, November 1st. Barclays increased their target price on Werner Enterprises from $36.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Stifel Nicolaus decreased their price objective on Werner Enterprises from $33.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, November 4th. TD Cowen lifted their target price on Werner Enterprises from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their target price on shares of Werner Enterprises from $37.00 to $33.00 and set a "sell" rating for the company in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $36.57.
Get Our Latest Stock Analysis on Werner Enterprises
Werner Enterprises Stock Performance
Werner Enterprises stock traded down $0.34 during mid-day trading on Monday, reaching $35.91. 457,824 shares of the company traded hands, compared to its average volume of 731,140. Werner Enterprises, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $42.71. The firm's fifty day moving average is $38.80 and its two-hundred day moving average is $37.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.53 and a quick ratio of 1.49. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 33.43 and a beta of 0.82.
Werner Enterprises (NASDAQ:WERN - Get Free Report) last released its earnings results on Tuesday, October 29th. The transportation company reported $0.15 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $765.24 million. During the same period in the previous year, the company earned $0.42 earnings per share. Werner Enterprises's revenue was down 8.8% on a year-over-year basis. On average, equities research analysts expect that Werner Enterprises, Inc. will post 0.68 earnings per share for the current fiscal year.
Werner Enterprises Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, January 2nd. Werner Enterprises's dividend payout ratio (DPR) is 76.71%.
About Werner Enterprises
(
Free Report)
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.
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