Congress Asset Management Co. Has $3.89 Million Holdings in Werner Enterprises, Inc. $WERN

Congress Asset Management Co. decreased its stake in Werner Enterprises, Inc. (NASDAQ:WERN) by 67.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,993 shares of the transportation company’s stock after selling 292,779 shares during the quarter. Congress Asset Management Co.’s holdings in Werner Enterprises were worth $3,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its stake in shares of Werner Enterprises by 163.5% in the 1st quarter. Brooklyn Investment Group now owns 959 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 595 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Werner Enterprises by 69.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,176 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 483 shares during the period. Fifth Third Bancorp increased its stake in Werner Enterprises by 306.9% in the second quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC raised its holdings in Werner Enterprises by 413.1% in the second quarter. GAMMA Investing LLC now owns 2,191 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,764 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Werner Enterprises by 15.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company’s stock worth $86,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 89.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WERN. The Goldman Sachs Group upgraded shares of Werner Enterprises from a “sell” rating to a “buy” rating and upped their price objective for the company from $25.00 to $39.00 in a research report on Monday, June 2nd. Baird R W raised Werner Enterprises to a “strong sell” rating in a research report on Tuesday, July 1st. Robert W. Baird began coverage on Werner Enterprises in a report on Tuesday, July 1st. They set an “underperform” rating and a $25.00 price objective on the stock. Evercore ISI increased their target price on Werner Enterprises from $21.00 to $25.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their price target on shares of Werner Enterprises from $24.00 to $25.00 and gave the company an “underweight” rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $30.14.

Werner Enterprises Stock Up 0.0%

Werner Enterprises stock opened at $26.26 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 0.51. Werner Enterprises, Inc. has a 1-year low of $23.02 and a 1-year high of $42.48. The company has a fifty day simple moving average of $27.96 and a 200 day simple moving average of $27.91. The company has a market cap of $1.57 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $753.15 million during the quarter, compared to analysts’ expectations of $736.09 million. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.Werner Enterprises’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. Research analysts anticipate that Werner Enterprises, Inc. will post 1.27 earnings per share for the current fiscal year.

Werner Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Monday, October 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, October 6th. Werner Enterprises’s dividend payout ratio is presently 65.12%.

Werner Enterprises announced that its board has initiated a stock buyback program on Monday, August 11th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Werner Enterprises Company Profile

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.