Bank of New York Mellon Corp Sells 38,294 Shares of Werner Enterprises, Inc. (NASDAQ:WERN)

Bank of New York Mellon Corp cut its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 593,371 shares of the transportation company's stock after selling 38,294 shares during the period. Bank of New York Mellon Corp owned about 0.96% of Werner Enterprises worth $17,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its holdings in shares of Werner Enterprises by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 22,516 shares of the transportation company's stock worth $660,000 after buying an additional 398 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Werner Enterprises by 69.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,176 shares of the transportation company's stock worth $34,000 after buying an additional 483 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Werner Enterprises by 7.7% during the fourth quarter. Bank of Montreal Can now owns 6,761 shares of the transportation company's stock worth $243,000 after buying an additional 485 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Werner Enterprises by 1.6% in the first quarter. Illinois Municipal Retirement Fund now owns 33,848 shares of the transportation company's stock valued at $992,000 after purchasing an additional 523 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Werner Enterprises by 35.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,431 shares of the transportation company's stock valued at $87,000 after purchasing an additional 639 shares during the period. 89.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WERN has been the subject of a number of recent research reports. Robert W. Baird initiated coverage on Werner Enterprises in a report on Tuesday, July 1st. They issued an "underperform" rating and a $25.00 price objective for the company. Bank of America increased their price objective on Werner Enterprises from $26.00 to $27.00 and gave the company an "underperform" rating in a report on Friday, June 13th. Susquehanna increased their price objective on Werner Enterprises from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Citigroup increased their price objective on Werner Enterprises from $29.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, TD Cowen decreased their price objective on Werner Enterprises from $33.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.40.

Werner Enterprises Stock Up 2.2%

NASDAQ WERN traded up $0.61 during trading hours on Tuesday, hitting $28.44. The company's stock had a trading volume of 791,436 shares, compared to its average volume of 797,322. Werner Enterprises, Inc. has a 52 week low of $23.02 and a 52 week high of $42.48. The company has a market capitalization of $1.76 billion, a PE ratio of 98.07, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.45. The company's 50-day simple moving average is $27.64 and its two-hundred day simple moving average is $30.22.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.24). Werner Enterprises had a net margin of 0.60% and a return on equity of 1.20%. The business had revenue of $712.11 million during the quarter, compared to the consensus estimate of $738.41 million. During the same period in the previous year, the business posted $0.14 EPS. Werner Enterprises's revenue was down 7.4% compared to the same quarter last year. Research analysts anticipate that Werner Enterprises, Inc. will post 1.27 EPS for the current fiscal year.

Werner Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Monday, July 7th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.97%. Werner Enterprises's payout ratio is currently 193.10%.

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.