Congress Asset Management Co. Has $3.89 Million Stock Holdings in Werner Enterprises, Inc. $WERN

Key Points

• Congress Asset Management Co. reduced its holdings in Werner Enterprises by 67.3%, now owning 141,993 shares valued at approximately $3.89 million.
• Analysts have mixed views on Werner Enterprises, with a consensus target price of $30.14 and ratings ranging from Buy to Sell.
• Werner Enterprises announced a quarterly dividend of $0.14 per share, reflecting a 2.1% yield and a payout ratio of 65.12%.

Congress Asset Management Co. reduced its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 67.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,993 shares of the transportation company's stock after selling 292,779 shares during the period. Congress Asset Management Co. owned about 0.23% of Werner Enterprises worth $3,885,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group lifted its stake in Werner Enterprises by 163.5% during the first quarter. Brooklyn Investment Group now owns 959 shares of the transportation company's stock worth $28,000 after purchasing an additional 595 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Werner Enterprises by 69.7% during the 1st 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 during the period. Fifth Third Bancorp boosted its stake in Werner Enterprises by 306.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company's stock valued at $35,000 after buying an additional 976 shares in the last quarter. GAMMA Investing LLC grew its position in Werner Enterprises by 413.1% in the second quarter. GAMMA Investing LLC now owns 2,191 shares of the transportation company's stock valued at $60,000 after acquiring an additional 1,764 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake 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 acquiring an additional 402 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company's stock.

Wall Street Analysts Forecast Growth

WERN has been the topic of several recent analyst reports. Bank of America reduced their target price on shares of Werner Enterprises from $27.00 to $26.00 and set an "underperform" rating on the stock in a research note on Wednesday, September 10th. Wells Fargo & Company upped their price objective on shares of Werner Enterprises from $24.00 to $25.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 30th. Robert W. Baird started coverage on shares of Werner Enterprises in a report on Tuesday, July 1st. They set an "underperform" rating and a $25.00 price objective for the company. Baird R W raised Werner Enterprises to a "strong sell" rating in a report on Tuesday, July 1st. Finally, Citigroup raised their price target on Werner Enterprises from $29.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $30.14.

Werner Enterprises Stock Up 0.0%

Shares of WERN opened at $26.26 on Friday. The business's fifty day moving average price is $27.96 and its two-hundred day moving average price is $27.91. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.42 and a beta of 1.09. Werner Enterprises, Inc. has a 52 week low of $23.02 and a 52 week high of $42.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.63 and a current ratio of 1.67.

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

Werner Enterprises declared that its Board of Directors has authorized a stock buyback plan on Monday, August 11th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Werner Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Monday, October 6th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, October 6th. This represents a $0.56 annualized dividend and a dividend yield of 2.1%. Werner Enterprises's payout ratio is currently 65.12%.

About Werner Enterprises

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.

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