Meros Investment Management LP Takes $12.21 Billion Position in Werner Enterprises, Inc. $WERN

Meros Investment Management LP bought a new position in Werner Enterprises, Inc. (NASDAQ:WERN) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 279,870 shares of the transportation company’s stock, valued at approximately $12,205,131,000. Werner Enterprises accounts for 3.9% of Meros Investment Management LP’s investment portfolio, making the stock its 6th biggest position. Meros Investment Management LP owned about 0.47% of Werner Enterprises at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of WERN. Allworth Financial LP bought a new position in Werner Enterprises during the second quarter valued at $38,000. Global Retirement Partners LLC purchased a new position in shares of Werner Enterprises during the 2nd quarter worth about $45,000. PNC Financial Services Group Inc. grew its holdings in Werner Enterprises by 41.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,324 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 679 shares during the last quarter. Covestor Ltd grew its holdings in Werner Enterprises by 28.3% during the 4th quarter. Covestor Ltd now owns 3,261 shares of the transportation company’s stock valued at $98,000 after purchasing an additional 719 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in Werner Enterprises in the 2nd quarter worth about $128,000. Hedge funds and other institutional investors own 89.32% of the company’s stock.

Werner Enterprises Price Performance

Shares of WERN stock opened at $37.64 on Wednesday. Werner Enterprises, Inc. has a twelve month low of $23.06 and a twelve month high of $47.49. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $40.97 and a two-hundred day simple moving average of $36.92. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -49.53, a P/E/G ratio of 0.67 and a beta of 1.27.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). The firm had revenue of $813.36 million for the quarter, compared to analysts’ expectations of $931.12 million. Werner Enterprises had a negative net margin of 1.42% and a positive return on equity of 1.18%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 EPS. On average, analysts predict that Werner Enterprises, Inc. will post 1.13 EPS for the current fiscal year.

Werner Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. Werner Enterprises’s dividend payout ratio (DPR) is -73.68%.

Analysts Set New Price Targets

Several brokerages have issued reports on WERN. JPMorgan Chase & Co. boosted their target price on Werner Enterprises from $37.00 to $39.00 and gave the company an “underweight” rating in a research report on Wednesday, July 29th. Susquehanna raised Werner Enterprises from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $48.00 to $44.00 in a research note on Thursday, July 30th. Wells Fargo & Company boosted their price objective on Werner Enterprises from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. Wall Street Zen raised Werner Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, TD Cowen reduced their target price on Werner Enterprises from $43.00 to $41.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.54.

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.