State Street Corp Increases Stock Holdings in Werner Enterprises, Inc. $WERN

Key Points

• State Street increased its Werner Enterprises stake by 3.1% in the second quarter, adding 79,075 shares to own 2.64 million shares valued at approximately $115 million. Institutional investors collectively own 89.32% of the company.
• Werner Enterprises reported quarterly EPS of $0.22, below the $0.24 analyst estimate, while revenue reached $813.36 million versus expectations of $931.12 million. The stock was trading at $33.48, down 2.7%.
• The company declared a quarterly dividend of $0.14, equal to an annualized $0.56 payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $41.54.

State Street Corp grew its holdings in Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,637,086 shares of the transportation company's stock after purchasing an additional 79,075 shares during the period. State Street Corp owned about 4.40% of Werner Enterprises worth $115,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC purchased a new stake in Werner Enterprises in the 1st quarter valued at about $1,119,000. Empowered Funds LLC increased its position in shares of Werner Enterprises by 30.0% during the first quarter. Empowered Funds LLC now owns 284,197 shares of the transportation company's stock worth $8,358,000 after acquiring an additional 65,534 shares during the period. Quantinno Capital Management LP increased its position in shares of Werner Enterprises by 293.8% during the first quarter. Quantinno Capital Management LP now owns 64,309 shares of the transportation company's stock worth $1,891,000 after acquiring an additional 47,977 shares during the period. Walleye Capital LLC bought a new stake in shares of Werner Enterprises during the second quarter valued at approximately $1,860,000. Finally, BlackRock Inc. boosted its holdings in shares of Werner Enterprises by 17.7% in the second quarter. BlackRock Inc. now owns 10,405,606 shares of the transportation company's stock valued at $453,788,000 after purchasing an additional 1,563,170 shares during the period. 89.32% of the stock is currently owned by institutional investors.

Werner Enterprises Trading Down 2.7%

WERN opened at $33.48 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -44.05 and a beta of 1.27. Werner Enterprises, Inc. has a 12 month low of $23.06 and a 12 month high of $47.49. The stock has a fifty day moving average price of $38.59 and a 200-day moving average price of $37.44.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Werner Enterprises had a negative net margin of 1.42% and a positive return on equity of 1.18%. The firm had revenue of $813.36 million for the quarter, compared to analysts' expectations of $931.12 million. During the same period in the previous year, the company posted $0.11 earnings per share. The business's quarterly revenue was up 24.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Werner Enterprises, Inc. will post 1.11 earnings per share for the current fiscal year.

Werner Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, October 5th. Werner Enterprises's dividend payout ratio (DPR) is -73.68%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WERN shares. TD Cowen dropped their price objective on Werner Enterprises from $43.00 to $41.00 and set a "hold" rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley lifted their target price on Werner Enterprises from $47.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Susquehanna upgraded Werner Enterprises from a "neutral" rating to a "positive" rating and lowered their target price for the stock from $48.00 to $44.00 in a report on Thursday, July 30th. Citigroup raised their price target on Werner Enterprises from $37.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Werner Enterprises from $37.00 to $39.00 and gave the company an "underweight" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.54.

Werner Enterprises 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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