Bank of America Corp DE Has $14.44 Million Position in Werner Enterprises, Inc. $WERN

Bank of America Corp DE lowered its position in Werner Enterprises, Inc. (NASDAQ:WERN) by 18.1% in the first quarter, HoldingsChannel.com reports. The fund owned 490,862 shares of the transportation company’s stock after selling 108,297 shares during the quarter. Bank of America Corp DE’s holdings in Werner Enterprises were worth $14,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Werner Enterprises by 0.3% during 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 worth $3,717,000 after purchasing an additional 401 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Werner Enterprises by 0.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 64,228 shares of the transportation company’s stock valued at $1,758,000 after acquiring an additional 503 shares during the period. California State Teachers Retirement System lifted its position in Werner Enterprises by 1.1% during the second quarter. California State Teachers Retirement System now owns 57,011 shares of the transportation company’s stock worth $1,560,000 after acquiring an additional 601 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in 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 acquiring an additional 679 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Werner Enterprises by 6.2% during the fourth quarter. ProShare Advisors LLC now owns 11,642 shares of the transportation company’s stock worth $349,000 after acquiring an additional 683 shares during the period. Institutional investors own 89.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on WERN shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Werner Enterprises in a report on Friday, July 24th. UBS Group upped their price target on shares of Werner Enterprises from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Susquehanna upgraded shares of Werner Enterprises from a “neutral” rating to a “positive” rating and dropped their price objective for the stock from $48.00 to $44.00 in a research note on Thursday, July 30th. Stifel Nicolaus lifted their price objective on shares of Werner Enterprises from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, July 13th. Finally, Evercore raised shares of Werner Enterprises from an “underperform” rating to an “in-line” rating in a report on Wednesday, July 1st. One 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.54.

Werner Enterprises Stock Performance

Shares of Werner Enterprises stock opened at $38.88 on Friday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -51.16, a P/E/G ratio of 0.67 and a beta of 1.27. Werner Enterprises, Inc. has a twelve month low of $23.06 and a twelve month high of $47.49. The company’s fifty day moving average is $41.17 and its 200 day moving average is $36.91. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 0.60.

Werner Enterprises (NASDAQ:WERN) last released its earnings results on Tuesday, July 28th. The transportation company reported $0.22 earnings per share 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 firm had revenue of $813.36 million for the quarter, compared to analyst estimates of $931.12 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts forecast that Werner Enterprises, Inc. will post 1.13 EPS for the current year.

Werner Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Monday, October 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend 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%.

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.