CenterBook Partners LP Purchases New Holdings in Werner Enterprises, Inc. $WERN

Key Points

• CenterBook Partners opened a position in Werner Enterprises, buying 70,648 shares worth about $2.4 million, or 0.12% of the company. Institutional investors collectively own 89.32% of WERN.
• Werner reported quarterly EPS of $0.16, matching estimates, while revenue of $825.3 million fell short of the $956.6 million consensus; revenue nevertheless rose 23.2% year over year.
• Analyst sentiment is mixed, with the stock carrying an average Hold rating and a $37.14 average price target. Several firms recently cut their targets.

CenterBook Partners LP acquired a new stake in Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,648 shares of the transportation company's stock, valued at approximately $2,401,000. CenterBook Partners LP owned 0.12% of Werner Enterprises at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WERN. BlackRock Inc. grew its holdings in Werner Enterprises by 17.7% during the 2nd quarter. BlackRock Inc. now owns 10,405,606 shares of the transportation company's stock worth $453,788,000 after acquiring an additional 1,563,170 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Werner Enterprises by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,794,752 shares of the transportation company's stock valued at $111,601,000 after acquiring an additional 148,826 shares during the last quarter. State Street Corp lifted its stake in shares of Werner Enterprises by 3.1% in the 2nd quarter. State Street Corp now owns 2,637,086 shares of the transportation company's stock valued at $115,003,000 after purchasing an additional 79,075 shares during the period. First Trust Advisors LP lifted its stake in shares of Werner Enterprises by 1,361.0% in the 1st quarter. First Trust Advisors LP now owns 1,921,152 shares of the transportation company's stock valued at $56,501,000 after purchasing an additional 1,789,653 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of Werner Enterprises by 146.9% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,366,167 shares of the transportation company's stock valued at $59,579,000 after purchasing an additional 812,800 shares during the period. 89.32% of the stock is owned by institutional investors.

Werner Enterprises Stock Performance

Shares of NASDAQ WERN opened at $26.95 on Monday. The company's fifty day moving average is $33.38 and its 200-day moving average is $35.92. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -86.93 and a beta of 1.34. Werner Enterprises, Inc. has a twelve month low of $23.06 and a twelve month high of $47.49. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 0.61.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The transportation company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Werner Enterprises had a negative net margin of 0.56% and a positive return on equity of 2.03%. The company had revenue of $825.28 million during the quarter, compared to analyst estimates of $956.55 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The firm's revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that Werner Enterprises, Inc. will post 0.61 EPS for the current year.

Analyst Upgrades and Downgrades

WERN has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on Werner Enterprises from $40.00 to $36.00 and set a "hold" rating on the stock in a research report on Wednesday, October 28th. Stephens dropped their price objective on Werner Enterprises from $46.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, October 28th. Bank of America cut their target price on Werner Enterprises from $40.00 to $32.00 and set an "underperform" rating on the stock in a research note on Tuesday, October 20th. Weiss Ratings cut Werner Enterprises from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on Werner Enterprises from $35.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 28th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $37.14.

Werner Enterprises Company Profile

Werner Enterprises, Inc is a transportation and logistics company headquartered in Omaha, Nebraska. Founded in 1956 by Clarence L. Werner, the company provides freight transportation and supply chain services to customers across North America.

The company's operations include truckload transportation, dedicated transportation, and regional truckload services. Werner also provides logistics services, including freight brokerage, intermodal transportation, cross-border transportation, and supply chain management solutions.

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