Bank of New York Mellon Corp Sells 51,151 Shares of Werner Enterprises, Inc. (NASDAQ:WERN)

Bank of New York Mellon Corp lowered its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,643 shares of the transportation company’s stock after selling 51,151 shares during the period. Bank of New York Mellon Corp owned approximately 1.09% of Werner Enterprises worth $24,782,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WERN. Massmutual Trust Co. FSB ADV boosted its stake in Werner Enterprises by 390.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 740 shares of the transportation company’s stock worth $27,000 after acquiring an additional 589 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Werner Enterprises in the second quarter worth approximately $29,000. EntryPoint Capital LLC bought a new position in shares of Werner Enterprises in the first quarter worth approximately $43,000. Blue Trust Inc. lifted its stake in shares of Werner Enterprises by 209.6% in the second quarter. Blue Trust Inc. now owns 1,158 shares of the transportation company’s stock worth $45,000 after buying an additional 784 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Werner Enterprises in the first quarter worth approximately $84,000. Institutional investors own 89.32% of the company’s stock.

Werner Enterprises Stock Down 0.1 %

Shares of WERN stock opened at $37.20 on Thursday. Werner Enterprises, Inc. has a 12 month low of $33.12 and a 12 month high of $43.26. The stock has a market cap of $2.36 billion, a P/E ratio of 28.40, a P/E/G ratio of 7.05 and a beta of 0.80. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $36.90 and a two-hundred day simple moving average of $37.19.

Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Tuesday, July 30th. The transportation company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Werner Enterprises had a net margin of 1.99% and a return on equity of 4.70%. The business had revenue of $760.80 million for the quarter, compared to analysts’ expectations of $769.81 million. During the same period in the prior year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts expect that Werner Enterprises, Inc. will post 1 earnings per share for the current year.

Werner Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.51%. Werner Enterprises’s dividend payout ratio (DPR) is presently 42.75%.

Wall Street Analyst Weigh In

WERN has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of Werner Enterprises from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Stifel Nicolaus dropped their target price on shares of Werner Enterprises from $39.00 to $33.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Stephens dropped their target price on shares of Werner Enterprises from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. UBS Group cut shares of Werner Enterprises from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a report on Tuesday, July 9th. Finally, TD Cowen boosted their price objective on shares of Werner Enterprises from $38.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.75.

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.