SummerHaven Investment Management LLC Acquires 492 Shares of Werner Enterprises, Inc. $WERN

SummerHaven Investment Management LLC boosted its holdings in Werner Enterprises, Inc. (NASDAQ:WERN) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,008 shares of the transportation company’s stock after buying an additional 492 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Werner Enterprises were worth $629,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Werner Enterprises by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 6,813,038 shares of the transportation company’s stock valued at $199,622,000 after purchasing an additional 82,581 shares during the period. Victory Capital Management Inc. increased its position in Werner Enterprises by 5.0% during the 1st quarter. Victory Capital Management Inc. now owns 3,641,546 shares of the transportation company’s stock valued at $106,697,000 after purchasing an additional 173,572 shares during the period. American Century Companies Inc. increased its position in Werner Enterprises by 9.2% during the 1st quarter. American Century Companies Inc. now owns 2,170,527 shares of the transportation company’s stock valued at $63,596,000 after purchasing an additional 183,340 shares during the period. Allspring Global Investments Holdings LLC increased its position in Werner Enterprises by 10.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,835,187 shares of the transportation company’s stock valued at $53,844,000 after purchasing an additional 174,341 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Werner Enterprises by 21.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 853,258 shares of the transportation company’s stock valued at $25,000,000 after purchasing an additional 149,087 shares during the period. Institutional investors own 89.32% of the company’s stock.

Werner Enterprises Stock Performance

Shares of WERN stock opened at $26.24 on Tuesday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. Werner Enterprises, Inc. has a 52 week low of $23.02 and a 52 week 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. The firm has a 50 day moving average of $27.93 and a 200-day moving average of $27.87.

Werner Enterprises (NASDAQ:WERN) last issued its earnings results on Tuesday, July 29th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.The company had revenue of $753.15 million for the quarter, compared to analysts’ expectations of $736.09 million. During the same period last year, the business earned $0.17 EPS. Werner Enterprises’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts forecast that Werner Enterprises, Inc. will post 1.27 earnings per share for the current year.

Werner Enterprises declared that its Board of Directors has initiated a share repurchase program on Monday, August 11th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Werner Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Monday, October 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, October 6th. Werner Enterprises’s dividend payout ratio (DPR) is currently 65.12%.

Analyst Ratings Changes

A number of analysts have weighed in on WERN shares. Susquehanna decreased their target price on shares of Werner Enterprises from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Baird R W raised shares of Werner Enterprises to a “strong sell” rating in a research report on Tuesday, July 1st. Wall Street Zen raised shares of Werner Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Evercore ISI increased their target price on shares of Werner Enterprises from $21.00 to $25.00 and gave the company an “underperform” rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird initiated coverage on shares of Werner Enterprises in a research report on Tuesday, July 1st. They set an “underperform” rating and a $25.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $30.14.

About Werner Enterprises

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.