Corient Private Wealth LP Buys 31,964 Shares of Werner Enterprises, Inc. $WERN

Key Points

• Corient Private Wealth increased its Werner Enterprises position by 79.7%, purchasing 31,964 shares to own 72,091 shares valued at approximately $3.14 million. Institutional investors hold 89.32% of the company’s outstanding shares.
• Analyst sentiment remains mixed, with Werner receiving a consensus “Hold” rating and an average price target of $41.54, compared with its recent share price of $35.67.
• Werner missed quarterly expectations, reporting $0.22 in EPS versus $0.24 forecast and revenue of $813.36 million versus $931.12 million expected. The company declared a quarterly dividend of $0.14 per share, representing a 1.6% annualized yield.

Corient Private Wealth LP boosted its position in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 79.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,091 shares of the transportation company's stock after buying an additional 31,964 shares during the period. Corient Private Wealth LP owned approximately 0.12% of Werner Enterprises worth $3,144,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Werner Enterprises by 21.5% in the second quarter. GAMMA Investing LLC now owns 3,812 shares of the transportation company's stock valued at $166,000 after acquiring an additional 675 shares during the last quarter. ProShare Advisors LLC lifted its stake in Werner Enterprises by 6.2% during the fourth quarter. ProShare Advisors LLC now owns 11,642 shares of the transportation company's stock worth $349,000 after purchasing an additional 683 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Werner Enterprises by 28.3% in the 4th quarter. Covestor Ltd now owns 3,261 shares of the transportation company's stock valued at $98,000 after purchasing an additional 719 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Werner Enterprises in the 2nd quarter valued at $38,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Werner Enterprises by 40.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the transportation company's stock valued at $96,000 after purchasing an additional 942 shares during the last quarter. 89.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen dropped their price objective on shares of Werner Enterprises from $43.00 to $41.00 and set a "hold" rating for the company in a research note on Wednesday, July 29th. Zacks Research cut shares of Werner Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Morgan Stanley upped their price target on shares of Werner Enterprises from $47.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Susquehanna upgraded Werner Enterprises from a "neutral" rating to a "positive" rating and dropped their price target for the company from $48.00 to $44.00 in a research note on Thursday, July 30th. Finally, Stephens raised Werner Enterprises to a "strong-buy" rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $41.54.

Werner Enterprises Stock Performance

Shares of WERN stock opened at $35.67 on Monday. The company has a market cap of $2.14 billion, a P/E ratio of -46.93 and a beta of 1.27. The stock has a 50 day simple moving average of $39.40 and a two-hundred day simple moving average of $37.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.42 and a current ratio of 1.45. Werner Enterprises, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $47.49.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.02). The business had revenue of $813.36 million for 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%.Werner Enterprises's quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 earnings per share. Research analysts forecast that Werner Enterprises, Inc. will post 1.11 earnings per share for the current year.

Werner Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Monday, October 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.56 annualized dividend and a yield of 1.6%. Werner Enterprises's dividend payout ratio is currently -73.68%.

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 the United States, as well as in Mexico and Canada.

The company's operations include truckload transportation, dedicated transportation, and logistics services. Its truckload business transports consumer and industrial goods using a network of company trucks and independent carriers, while its dedicated operations provide customized fleets and drivers for customers with recurring freight needs.

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