Werner Enterprises, Inc. $WERN Stock Position Lifted by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Werner Enterprises by **865.2%**, acquiring an additional **153,400 shares** for a total of **171,129 shares** worth approximately **$5 million**.
• Goldman Sachs has upgraded Werner Enterprises from a **"sell"** to a **"buy"** rating, raising the price target from **$25.00 to $39.00**, indicating growing confidence in the company's outlook.
• Werner Enterprises declared a quarterly dividend of **$0.14 per share** and announced a share repurchase plan allowing for the buyback of **5 million shares**, reflecting confidence in its valuation.

Dark Forest Capital Management LP grew its position in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 865.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,129 shares of the transportation company's stock after acquiring an additional 153,400 shares during the quarter. Dark Forest Capital Management LP owned about 0.28% of Werner Enterprises worth $5,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WERN. Wellington Management Group LLP acquired a new stake in Werner Enterprises during the fourth quarter worth about $31,634,000. Edgestream Partners L.P. increased its stake in Werner Enterprises by 182.3% during the first quarter. Edgestream Partners L.P. now owns 327,057 shares of the transportation company's stock worth $9,583,000 after acquiring an additional 211,215 shares during the last quarter. American Century Companies Inc. increased its stake in Werner Enterprises by 9.2% during the first quarter. American Century Companies Inc. now owns 2,170,527 shares of the transportation company's stock worth $63,596,000 after acquiring an additional 183,340 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Werner Enterprises by 10.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,835,187 shares of the transportation company's stock worth $53,844,000 after acquiring an additional 174,341 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Werner Enterprises by 5.0% during the first quarter. Victory Capital Management Inc. now owns 3,641,546 shares of the transportation company's stock worth $106,697,000 after acquiring an additional 173,572 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.

Werner Enterprises Stock Up 1.2%

WERN traded up $0.35 on Thursday, reaching $28.82. The company's stock had a trading volume of 459,005 shares, compared to its average volume of 699,471. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09. Werner Enterprises, Inc. has a 1 year low of $23.02 and a 1 year high of $42.48. 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 business's 50 day moving average is $28.28 and its 200 day moving average is $28.48.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last issued 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. The firm 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%.Werner Enterprises's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. As a group, research analysts forecast that Werner Enterprises, Inc. will post 1.27 EPS for the current fiscal year.

Werner Enterprises declared that its board has approved a share repurchase program on Monday, August 11th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Werner Enterprises Announces Dividend

The company 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 1.9%. The ex-dividend date of this dividend is Monday, October 6th. Werner Enterprises's dividend payout ratio (DPR) is currently 65.12%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on 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. Citigroup increased their target price on Werner Enterprises from $29.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Robert W. Baird began coverage on Werner Enterprises in a research note on Tuesday, July 1st. They issued an "underperform" rating and a $25.00 target price for the company. Susquehanna increased their target price on Werner Enterprises from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company increased their target price on Werner Enterprises from $24.00 to $25.00 and gave the company an "underweight" rating in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $30.50.

Werner Enterprises Company 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.