29,726 Shares in Werner Enterprises, Inc. $WERN Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in Werner Enterprises, Inc. (NASDAQ:WERN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,726 shares of the transportation company’s stock, valued at approximately $1,296,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in Werner Enterprises during the 2nd quarter worth approximately $38,000. Global Retirement Partners LLC acquired a new position in Werner Enterprises in the 2nd quarter worth $45,000. PNC Financial Services Group Inc. boosted its position in shares of Werner Enterprises by 41.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,324 shares of the transportation company’s stock worth $70,000 after buying an additional 679 shares during the period. Covestor Ltd boosted its position in Werner Enterprises by 28.3% during the 4th quarter. Covestor Ltd now owns 3,261 shares of the transportation company’s stock worth $98,000 after acquiring an additional 719 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Werner Enterprises in the second quarter valued at approximately $128,000. Institutional investors and hedge funds own 89.32% of the company’s stock.

Werner Enterprises Stock Up 4.0%

Werner Enterprises stock opened at $40.04 on Friday. 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 company’s 50-day moving average is $40.57 and its 200-day moving average is $37.12. The firm has a market capitalization of $2.40 billion, a PE ratio of -52.68, a P/E/G ratio of 0.67 and a beta of 1.27. Werner Enterprises, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $47.49.

Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings data 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). Werner Enterprises had a negative net margin of 1.42% and a positive return on equity of 1.18%. The business had revenue of $813.36 million during the quarter, compared to analyst estimates of $931.12 million. During the same period in the previous year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 24.0% on a year-over-year basis. Sell-side analysts anticipate that Werner Enterprises, Inc. will post 1.14 earnings per share for the current year.

Werner Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, October 5th. Werner Enterprises’s dividend payout ratio is currently -73.68%.

Wall Street Analysts Forecast Growth

WERN has been the subject of several recent research reports. Stephens upgraded shares of Werner Enterprises to a “strong-buy” rating in a report on Wednesday, July 8th. TD Cowen lowered their price target on shares of Werner Enterprises from $43.00 to $41.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. Susquehanna raised shares of Werner Enterprises from a “neutral” rating to a “positive” rating and cut their price target for the stock from $48.00 to $44.00 in a research report on Thursday, July 30th. Morgan Stanley increased their price objective on shares of Werner Enterprises from $47.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Wells Fargo & Company lifted their target price on Werner Enterprises from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.54.

Werner Enterprises Company 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.