Bank of America Corp DE Has $14.44 Million Position in Werner Enterprises, Inc. $WERN

Key Points

• Bank of America reduced its Werner Enterprises stake by 18.1% in the first quarter, selling 108,297 shares and retaining 490,862 shares valued at approximately $14.44 million. Institutional investors collectively own 89.32% of the company.
• Werner’s latest quarterly results fell short of expectations, with EPS of $0.22 versus a $0.24 consensus estimate and revenue of $813.36 million versus $931.12 million expected, despite revenue increasing 24% year over year.
• The company declared a quarterly dividend of $0.14, or $0.56 annualized, representing a 1.4% yield. Analysts’ consensus rating is Hold, with an average price target of $41.54 compared with the reported share price of $38.88.

Bank of America Corp DE cut its stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 18.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 490,862 shares of the transportation company's stock after selling 108,297 shares during the period. Bank of America Corp DE owned about 0.82% of Werner Enterprises worth $14,436,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. purchased a new stake in shares of Werner Enterprises during the 1st quarter worth about $4,456,000. Amundi boosted its holdings in Werner Enterprises by 24.9% in the first quarter. Amundi now owns 11,552 shares of the transportation company's stock worth $340,000 after purchasing an additional 2,306 shares in the last quarter. California State Teachers Retirement System increased its position in Werner Enterprises by 28.0% during the first quarter. California State Teachers Retirement System now owns 72,900 shares of the transportation company's stock worth $2,144,000 after buying an additional 15,943 shares during the last quarter. Empowered Funds LLC raised its holdings in Werner Enterprises by 30.0% during the first quarter. Empowered Funds LLC now owns 284,197 shares of the transportation company's stock valued at $8,358,000 after buying an additional 65,534 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in shares of Werner Enterprises in the first quarter worth about $802,000. Institutional investors and hedge funds own 89.32% of the company's stock.

Werner Enterprises Price Performance

Shares of WERN stock opened at $38.88 on Friday. Werner Enterprises, Inc. has a 12-month low of $23.06 and a 12-month high of $47.49. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -51.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $41.17 and a 200-day moving average of $36.91.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). The business had revenue of $813.36 million during the quarter, compared to the consensus estimate of $931.12 million. Werner Enterprises had a positive return on equity of 1.18% and a negative net margin of 1.42%.The firm's revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. On average, equities research analysts forecast that Werner Enterprises, Inc. will post 1.13 earnings per share for the current year.

Werner Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Monday, October 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, October 5th. Werner Enterprises's payout ratio is -73.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Robert W. Baird upgraded Werner Enterprises from a "neutral" rating to an "outperform" rating and set a $43.00 price target on the stock in a report on Thursday, July 30th. Wells Fargo & Company lifted their target price on shares of Werner Enterprises from $39.00 to $46.00 and gave the stock an "equal weight" rating in a report on Friday, June 5th. Susquehanna raised Werner Enterprises from a "neutral" rating to a "positive" rating and lowered their price target for the company from $48.00 to $44.00 in a research report on Thursday, July 30th. TD Cowen cut their price objective on Werner Enterprises from $43.00 to $41.00 and set a "hold" rating for the company in a research report on Wednesday, July 29th. Finally, Morgan Stanley raised their target price on Werner Enterprises from $47.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $41.54.

Werner Enterprises Profile

Werner Enterprises, Inc, founded in 1956 by Clarence L. “Chris” Werner, is a leading transportation and logistics provider based in Omaha, Nebraska. The company began as a one‐truck operation and has since grown into one of North America's largest carriers, offering an array of services to support diverse supply chains.

Werner's core business activities include full truckload dry van services, dedicated contract carriage, intermodal transport and brokerage solutions. The company also provides value-added services such as warehousing, freight management and fleet maintenance through its network of terminals and service centers.

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