PNC Financial Services Group Inc. Has $86,000 Holdings in Werner Enterprises, Inc. $WERN

PNC Financial Services Group Inc. raised its position in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937 shares of the transportation company’s stock after purchasing an additional 402 shares during the period. PNC Financial Services Group Inc.’s holdings in Werner Enterprises were worth $86,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Werner Enterprises by 2.7% in the first quarter. Principal Financial Group Inc. now owns 308,067 shares of the transportation company’s stock worth $9,026,000 after buying an additional 8,080 shares during the last quarter. SG Americas Securities LLC grew its position in Werner Enterprises by 164.3% in the first quarter. SG Americas Securities LLC now owns 11,066 shares of the transportation company’s stock worth $324,000 after acquiring an additional 6,879 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Werner Enterprises in the first quarter worth approximately $686,000. Teacher Retirement System of Texas acquired a new position in shares of Werner Enterprises during the 1st quarter worth $265,000. Finally, Deutsche Bank AG raised its holdings in shares of Werner Enterprises by 34.5% during the 4th quarter. Deutsche Bank AG now owns 53,640 shares of the transportation company’s stock valued at $1,927,000 after purchasing an additional 13,758 shares in the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on WERN. Stifel Nicolaus decreased their price objective on shares of Werner Enterprises from $29.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, May 1st. UBS Group cut their target price on Werner Enterprises from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group upgraded Werner Enterprises from a “sell” rating to a “buy” rating and upped their price target for the stock from $25.00 to $39.00 in a research note on Monday, June 2nd. Evercore ISI increased their price objective on Werner Enterprises from $21.00 to $25.00 and gave the company an “underperform” rating in a report on Wednesday, July 30th. Finally, TD Cowen cut their price objective on Werner Enterprises from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $30.50.

Werner Enterprises Trading Down 3.8%

Shares of NASDAQ:WERN opened at $27.66 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.63 and a current ratio of 1.67. The stock’s 50-day moving average is $28.03 and its 200-day moving average is $28.93. The company has a market cap of $1.65 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.66 and a beta of 1.08. Werner Enterprises, Inc. has a 52-week low of $23.02 and a 52-week high of $42.48.

Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings data on Tuesday, July 29th. The transportation company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The business 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%.The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. Equities research analysts predict that Werner Enterprises, Inc. will post 1.27 earnings per share for the current year.

Werner Enterprises declared that its Board of Directors has initiated a share buyback program on Monday, August 11th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Werner Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Monday, October 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. Werner Enterprises’s dividend payout ratio is currently 65.12%.

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.