California Public Employees Retirement System Raises Stake in Werner Enterprises Inc. (WERN)
California Public Employees Retirement System increased its stake in Werner Enterprises Inc. (NASDAQ:WERN) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 180,800 shares of the company’s stock after buying an additional 2,900 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Werner Enterprises worth $4,153,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. First Republic Investment Management Inc. acquired a new stake in Werner Enterprises during the first quarter worth about $282,000. A.R.T. Advisors LLC acquired a new stake in Werner Enterprises during the first quarter worth about $526,000. Renaissance Technologies LLC acquired a new stake in Werner Enterprises during the first quarter worth about $504,000. Goldman Sachs Group Inc. boosted its stake in Werner Enterprises by 55.3% in the first quarter. Goldman Sachs Group Inc. now owns 635,917 shares of the company’s stock worth $17,272,000 after buying an additional 226,423 shares during the period. Finally, AXA boosted its stake in Werner Enterprises by 222.9% in the first quarter. AXA now owns 61,030 shares of the company’s stock worth $1,658,000 after buying an additional 42,130 shares during the period. Hedge funds and other institutional investors own 64.80% of the company’s stock.
Shares of Werner Enterprises Inc. (NASDAQ:WERN) traded down 1.60% during trading on Tuesday, reaching $23.31. 524,025 shares of the company were exchanged. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.74 and a beta of 0.86. Werner Enterprises Inc. has a one year low of $20.91 and a one year high of $28.80. The company has a 50 day moving average price of $23.67 and a 200-day moving average price of $24.82.
Werner Enterprises (NASDAQ:WERN) last posted its earnings results on Thursday, July 21st. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Werner Enterprises had a return on equity of 11.42% and a net margin of 5.24%. The business earned $498.68 million during the quarter, compared to analysts’ expectations of $499.50 million. During the same period in the prior year, the business earned $0.44 EPS. Equities analysts predict that Werner Enterprises Inc. will post $1.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 3rd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a yield of 1.03%. Werner Enterprises’s payout ratio is 16.22%.
A number of analysts have issued reports on the stock. BB&T Corp. cut shares of Werner Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Deutsche Bank AG set a $23.00 target price on shares of Werner Enterprises and gave the company a “hold” rating in a research note on Monday, July 25th. Evercore ISI assumed coverage on shares of Werner Enterprises in a research note on Friday, June 3rd. They issued a “hold” rating and a $28.00 target price for the company. Bank of America Corp. cut shares of Werner Enterprises from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 21st. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $21.00 target price on shares of Werner Enterprises in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Werner Enterprises has an average rating of “Hold” and a consensus price target of $27.22.
About Werner Enterprises
Werner Enterprises, Inc is a transportation and logistics company. The Company is engaged in transporting truckload shipments of general commodities in both interstate and intrastate commerce. The Company operates through two segments: Truckload Transportation Services (Truckload) and Value Added Services (VAS).
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