Norden Group LLC Makes New $337,000 Investment in Werner Enterprises, Inc. (NASDAQ:WERN)

Norden Group LLC acquired a new stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,951 shares of the transportation company’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Werner Enterprises in the 3rd quarter worth approximately $818,000. State of Alaska Department of Revenue boosted its position in shares of Werner Enterprises by 3.8% in the third quarter. State of Alaska Department of Revenue now owns 7,586 shares of the transportation company’s stock worth $295,000 after buying an additional 280 shares during the period. Raymond James & Associates grew its holdings in shares of Werner Enterprises by 137.2% during the third quarter. Raymond James & Associates now owns 125,028 shares of the transportation company’s stock valued at $4,870,000 after buying an additional 72,316 shares in the last quarter. Bank of New York Mellon Corp raised its position in Werner Enterprises by 35.0% during the third quarter. Bank of New York Mellon Corp now owns 962,645 shares of the transportation company’s stock valued at $37,495,000 after buying an additional 249,838 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in Werner Enterprises by 0.6% in the 3rd quarter. New York State Teachers Retirement System now owns 63,319 shares of the transportation company’s stock worth $2,466,000 after acquiring an additional 385 shares in the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays cut Werner Enterprises from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $45.00 to $40.00 in a research note on Monday, April 1st. Morgan Stanley dropped their price objective on shares of Werner Enterprises from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Robert W. Baird decreased their target price on shares of Werner Enterprises from $46.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Werner Enterprises from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Evercore ISI cut their price objective on Werner Enterprises from $39.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.85.

Werner Enterprises Stock Up 2.8 %

WERN stock opened at $35.17 on Thursday. The firm has a market cap of $2.23 billion, a PE ratio of 26.85, a PEG ratio of 1.04 and a beta of 0.82. Werner Enterprises, Inc. has a 1 year low of $33.12 and a 1 year high of $47.27. The company has a fifty day simple moving average of $37.82 and a 200 day simple moving average of $39.13. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 0.42.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings results on Tuesday, April 30th. The transportation company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The company had revenue of $769.08 million during the quarter, compared to analyst estimates of $788.30 million. Werner Enterprises had a return on equity of 6.16% and a net margin of 2.59%. Werner Enterprises’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Sell-side analysts anticipate that Werner Enterprises, Inc. will post 1.91 EPS for the current fiscal year.

Werner Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were given a dividend of $0.14 per share. The ex-dividend date was Friday, April 12th. This represents a $0.56 dividend on an annualized basis and a yield of 1.59%. Werner Enterprises’s payout ratio is currently 42.75%.

Werner Enterprises 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.