Victory Capital Management Inc. decreased its position in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,681,538 shares of the transportation company’s stock after selling 264,834 shares during the quarter. Victory Capital Management Inc.’s holdings in Werner Enterprises were worth $59,442,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Werner Enterprises by 2.8% during the 2nd quarter. BlackRock Inc. now owns 5,516,342 shares of the transportation company’s stock worth $207,139,000 after purchasing an additional 148,723 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Werner Enterprises by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,984,025 shares of the transportation company’s stock worth $112,051,000 after purchasing an additional 110,615 shares during the period. Northern Trust Corp grew its stake in shares of Werner Enterprises by 12.5% during the 2nd quarter. Northern Trust Corp now owns 799,941 shares of the transportation company’s stock worth $30,038,000 after purchasing an additional 88,619 shares during the period. Pinnacle Associates Ltd. acquired a new stake in shares of Werner Enterprises during the 2nd quarter worth approximately $21,903,000. Finally, Intrinsic Edge Capital Management LLC grew its stake in shares of Werner Enterprises by 165.0% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 463,030 shares of the transportation company’s stock worth $17,387,000 after purchasing an additional 288,314 shares during the period. 68.73% of the stock is currently owned by institutional investors and hedge funds.
Werner Enterprises stock opened at $33.18 on Wednesday. Werner Enterprises, Inc. has a 1 year low of $31.08 and a 1 year high of $43.95. The firm has a market capitalization of $2.34 billion, a P/E ratio of 26.13, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.37 and a current ratio of 1.41.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 16th. Investors of record on Monday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. Werner Enterprises’s dividend payout ratio is currently 28.35%.
A number of brokerages have recently commented on WERN. BidaskClub raised shares of Werner Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. ValuEngine cut shares of Werner Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Robert W. Baird raised their price objective on shares of Werner Enterprises from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. Bank of America raised shares of Werner Enterprises from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $41.00 to $44.00 in a research note on Tuesday, July 24th. Finally, Stephens set a $40.00 price target on shares of Werner Enterprises and gave the company a “buy” rating in a research note on Friday, October 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.67.
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Werner Enterprises Profile
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, China, and Australia. It operates through two segments, Truckload Transportation Services and Werner Logistics.
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