310,655 Shares in Werner Enterprises, Inc. $WERN Bought by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC has made a significant investment of $9.10 million in Werner Enterprises, acquiring 310,655 shares of the company during the first quarter.
• Werner Enterprises has announced a quarterly dividend of $0.14 per share, reflecting a 2.0% dividend yield, with the ex-dividend date set for October 6th.
• The company's stock has recently seen mixed reports from analysts, with a consensus rating of "Reduce" and a target price of $30.50.

Bridgeway Capital Management LLC purchased a new position in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 310,655 shares of the transportation company's stock, valued at approximately $9,102,000. Bridgeway Capital Management LLC owned approximately 0.50% of Werner Enterprises at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in shares of Werner Enterprises by 163.5% during the 1st quarter. Brooklyn Investment Group now owns 959 shares of the transportation company's stock valued at $28,000 after acquiring an additional 595 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Werner Enterprises by 69.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,176 shares of the transportation company's stock valued at $34,000 after purchasing an additional 483 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Werner Enterprises by 15.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company's stock worth $86,000 after purchasing an additional 402 shares during the period. Crestline Management LP acquired a new stake in Werner Enterprises during the fourth quarter worth about $254,000. Finally, Teacher Retirement System of Texas bought a new position in Werner Enterprises in the 1st quarter valued at about $265,000. 89.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WERN has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Werner Enterprises from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Friday, June 13th. Robert W. Baird started coverage on Werner Enterprises in a research note on Tuesday, July 1st. They set an "underperform" rating and a $25.00 target price for the company. Wall Street Zen upgraded Werner Enterprises from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Evercore ISI boosted their price target on Werner Enterprises from $21.00 to $25.00 and gave the stock an "underperform" rating in a report on Wednesday, July 30th. Finally, Baird R W raised Werner Enterprises to a "strong sell" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Werner Enterprises presently has an average rating of "Reduce" and an average target price of $30.50.

Werner Enterprises Price Performance

WERN stock traded down $0.22 during midday trading on Tuesday, reaching $28.39. 185,964 shares of the stock were exchanged, compared to its average volume of 880,435. Werner Enterprises, Inc. has a 52 week low of $23.02 and a 52 week high of $42.48. The company has a fifty day moving average price of $28.32 and a 200 day moving average price of $28.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.67 and a quick ratio of 1.63. The stock has a market capitalization of $1.70 billion, a PE ratio of 32.99, a P/E/G ratio of 1.54 and a beta of 1.09.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.The firm had revenue of $753.15 million for the quarter, compared to analyst estimates of $736.09 million. During the same period last year, the firm posted $0.17 earnings per share. The business's revenue for the quarter was down 1.0% on a year-over-year basis. As a group, analysts expect that Werner Enterprises, Inc. will post 1.27 EPS for the current fiscal year.

Werner Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Monday, October 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. Werner Enterprises's payout ratio is presently 65.12%.

Werner Enterprises declared that its board has initiated a stock buyback plan on Monday, August 11th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

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.