Werner Enterprises, Inc. $WERN Position Reduced by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd reduced its position in Werner Enterprises, Inc. by 36.5%, owning 17,586 shares after selling 10,122 shares in the second quarter.
• Werner Enterprises reported earnings of $0.11 per share for the last quarter, surpassing consensus estimates of $0.05, despite facing a 1.0% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.14 per share, with a yield of 2.1%, and initiated a share repurchase program for up to 5,000,000 shares.

Bayforest Capital Ltd reduced its position in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 36.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,586 shares of the transportation company's stock after selling 10,122 shares during the quarter. Bayforest Capital Ltd's holdings in Werner Enterprises were worth $481,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group lifted its holdings in shares of Werner Enterprises by 163.5% in the first quarter. Brooklyn Investment Group now owns 959 shares of the transportation company's stock valued at $28,000 after buying an additional 595 shares during the period. Fifth Third Bancorp raised its position in Werner Enterprises by 306.9% in the second quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company's stock worth $35,000 after acquiring an additional 976 shares in the last quarter. GAMMA Investing LLC raised 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 worth $60,000 after acquiring an additional 1,764 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Werner Enterprises by 15.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company's stock valued at $86,000 after acquiring an additional 402 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of Werner Enterprises during the 2nd quarter valued at about $225,000. 89.32% of the stock is currently owned by institutional investors and hedge funds.

Werner Enterprises Price Performance

Shares of NASDAQ:WERN opened at $26.54 on Wednesday. The company's fifty day moving average is $27.74 and its two-hundred day moving average is $27.69. The company has a market cap of $1.59 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. Werner Enterprises, Inc. has a 12-month low of $23.02 and a 12-month high of $42.48. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 0.51.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. The business had revenue of $753.15 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Equities analysts expect that Werner Enterprises, Inc. will post 1.27 earnings per share for the current fiscal year.

Werner Enterprises Announces Dividend

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

Werner Enterprises announced that its board has initiated a share repurchase program on Monday, August 11th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on WERN. Bank of America dropped their target price on shares of Werner Enterprises from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Wednesday, September 10th. Evercore ISI dropped their price target on Werner Enterprises from $25.00 to $23.00 and set an "underperform" rating on the stock in a report on Tuesday, September 30th. Baird R W raised Werner Enterprises to a "strong sell" rating in a research note on Tuesday, July 1st. TD Cowen lowered Werner Enterprises from a "buy" rating to a "hold" rating and set a $24.00 target price on the stock. in a research report on Wednesday, October 8th. Finally, Robert W. Baird initiated coverage on Werner Enterprises in a report on Tuesday, July 1st. They set an "underperform" rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $27.57.

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.

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