Werner Enterprises, Inc. $WERN Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Werner Enterprises stake by 57.9% in the second quarter, selling 1.13 million shares and retaining 821,046 shares worth approximately $35.8 million. Institutional investors collectively own 89.32% of WERN.
• Analyst views remain mixed, with Werner holding a consensus “Hold” rating and an average price target of $41.54. Recent updates included upgrades from Robert W. Baird and Morgan Stanley, alongside downgrades from Zacks Research and TD Cowen.
• Werner reported quarterly EPS of $0.22, below the $0.24 consensus estimate, while revenue of $813.36 million also missed expectations. The company declared a quarterly dividend of $0.14 per share, equivalent to a 1.4% annualized yield.

Wellington Management Group LLP cut its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 57.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 821,046 shares of the transportation company's stock after selling 1,131,093 shares during the period. Wellington Management Group LLP owned about 1.37% of Werner Enterprises worth $35,806,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Werner Enterprises by 0.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,854 shares of the transportation company's stock valued at $3,717,000 after purchasing an additional 401 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Werner Enterprises by 0.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 64,228 shares of the transportation company's stock worth $1,758,000 after buying an additional 503 shares during the period. California State Teachers Retirement System lifted its holdings in Werner Enterprises by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 57,011 shares of the transportation company's stock worth $1,560,000 after buying an additional 601 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Werner Enterprises by 21.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,812 shares of the transportation company's stock worth $166,000 after buying an additional 675 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Werner Enterprises by 41.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,324 shares of the transportation company's stock valued at $70,000 after buying an additional 679 shares during the period. Institutional investors and hedge funds own 89.32% of the company's stock.

Analyst Ratings Changes

WERN has been the subject of several research reports. Robert W. Baird upgraded shares of Werner Enterprises from a "neutral" rating to an "outperform" rating and set a $43.00 price target for the company in a research note on Thursday, July 30th. Morgan Stanley increased their price objective on Werner Enterprises from $47.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Zacks Research lowered Werner Enterprises from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. TD Cowen lowered their target price on Werner Enterprises from $43.00 to $41.00 and set a "hold" rating for the company in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group upped their price target on Werner Enterprises from $43.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Werner Enterprises currently has an average rating of "Hold" and an average price target of $41.54.

Werner Enterprises Stock Performance

NASDAQ:WERN opened at $40.04 on Friday. Werner Enterprises, Inc. has a 12 month low of $23.06 and a 12 month high of $47.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.45 and a quick ratio of 1.42. The firm has a market capitalization of $2.40 billion, a PE ratio of -52.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The business's fifty day moving average price is $40.57 and its 200 day moving average price is $37.12.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced 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 analysts' expectations of $931.12 million. Werner Enterprises had a positive return on equity of 1.18% and a negative net margin of 1.42%.The firm's quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. On average, sell-side analysts anticipate that Werner Enterprises, Inc. will post 1.14 earnings per share for the current fiscal year.

Werner Enterprises Dividend Announcement

The firm 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 is Monday, October 5th. This represents a $0.56 annualized dividend and a yield of 1.4%. Werner Enterprises's payout ratio is presently -73.68%.

Werner Enterprises Profile

Werner Enterprises, Inc, founded in 1956 by Clarence L. “Chris” Werner, is a leading transportation and logistics provider based in Omaha, Nebraska. The company began as a one‐truck operation and has since grown into one of North America's largest carriers, offering an array of services to support diverse supply chains.

Werner's core business activities include full truckload dry van services, dedicated contract carriage, intermodal transport and brokerage solutions. The company also provides value-added services such as warehousing, freight management and fleet maintenance through its network of terminals and service centers.

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