Bank of America Corp DE Decreases Stock Position in Werner Enterprises, Inc. (NASDAQ:WERN)

Bank of America Corp DE trimmed its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 420,067 shares of the transportation company’s stock after selling 1,656 shares during the period. Bank of America Corp DE owned approximately 0.68% of Werner Enterprises worth $15,089,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WERN. Maple Rock Capital Partners Inc. bought a new position in shares of Werner Enterprises during the fourth quarter valued at $35,257,000. Wellington Management Group LLP purchased a new position in Werner Enterprises in the 4th quarter worth about $31,634,000. American Century Companies Inc. lifted its stake in Werner Enterprises by 13.4% during the 4th quarter. American Century Companies Inc. now owns 1,987,187 shares of the transportation company’s stock valued at $71,380,000 after acquiring an additional 234,811 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Werner Enterprises by 9.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,660,846 shares of the transportation company’s stock valued at $59,010,000 after acquiring an additional 143,953 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Werner Enterprises by 145.2% during the 4th quarter. JPMorgan Chase & Co. now owns 210,389 shares of the transportation company’s stock valued at $7,557,000 after acquiring an additional 124,574 shares during the last quarter. 89.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on WERN shares. UBS Group lowered their price objective on shares of Werner Enterprises from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Barclays decreased their target price on shares of Werner Enterprises from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Evercore ISI downgraded Werner Enterprises from an “in-line” rating to an “underperform” rating and dropped their price target for the stock from $27.00 to $21.00 in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft began coverage on Werner Enterprises in a report on Friday, March 7th. They issued a “hold” rating and a $33.00 price objective for the company. Finally, The Goldman Sachs Group lowered their target price on Werner Enterprises from $28.00 to $25.00 and set a “sell” rating on the stock in a report on Wednesday, April 30th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Werner Enterprises currently has an average rating of “Hold” and a consensus target price of $29.69.

Werner Enterprises Stock Performance

Shares of WERN opened at $26.23 on Thursday. The business has a 50-day simple moving average of $28.02 and a two-hundred day simple moving average of $33.58. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.43. Werner Enterprises, Inc. has a 52 week low of $23.02 and a 52 week high of $42.48. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 47.69 and a beta of 1.09.

Werner Enterprises (NASDAQ:WERN) last released its earnings results on Tuesday, April 29th. The transportation company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.24). Werner Enterprises had a return on equity of 2.27% and a net margin of 1.13%. The firm had revenue of $712.11 million during the quarter, compared to analysts’ expectations of $738.41 million. During the same period in the prior year, the company posted $0.14 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. On average, analysts expect that Werner Enterprises, Inc. will post 1.27 EPS for the current year.

Werner Enterprises 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.