On September 14, 2023, it was reported that Gries Financial LLC has significantly reduced its stake in Werner Enterprises, Inc. (NASDAQ:WERN) during the first quarter of this year. According to the company’s latest filing with the Securities and Exchange Commission, Gries Financial LLC now owns 4,516 shares of the transportation company’s stock after selling 66,147 shares. At the end of the reporting period, these remaining shares were valued at approximately $205,000.
This news comes after Werner Enterprises recently released its earnings results on August 3rd. The transportation company reported earnings per share of $0.52 for the quarter, falling short of the consensus estimate by ($0.11). Furthermore, Werner Enterprises had a net margin of 5.41% and a return on equity of 13.22%. The company’s quarterly revenue amounted to $811.10 million, slightly lower than the consensus estimate of $819.28 million. Compared to the same quarter last year, Werner Enterprises experienced a decline in revenue by 3.0%. It is anticipated that for the current year, research analysts predict Werner Enterprises will post an EPS (earnings per share) of 2.37.
These recent developments provide valuable insights into Werner Enterprises’ performance both in terms of financials and investor sentiment. Gries Financial LLC’s significant reduction in its stake suggests a lack of confidence in the transportation company’s future prospects.
Werner Enterprises is known for providing various transportation services such as truckload shipping and logistics management solutions across North America and other international markets as well. The company prides itself on its commitment to customer satisfaction and safety.
As always with investment decisions, it is important for investors to conduct their own research and analysis before making any decisions regarding stocks or investment strategies.
Overall, this recent disclosure from Gries Financial LLC and Werner Enterprises’ latest earnings report highlight the evolving dynamics within the transportation industry. It remains to be seen how these factors will impact Werner Enterprises’ future performance in the market.
Werner Enterprises Sees Increased Interest from Institutional Investors and Hedge Funds
Werner Enterprises, a transportation company listed on NASDAQ as WERN, has recently seen increased activity from institutional investors and hedge funds in buying and selling shares. One notable firm, JPMorgan Chase & Co., raised its stake in the company by 20.2% during the first quarter of this year. This move saw JPMorgan Chase & Co. now owning 238,975 shares of Werner Enterprises’ stock valued at $9,798,000 after purchasing an additional 40,108 shares.
Another financial services group, PNC Financial Services Group Inc., also raised its stake in Werner Enterprises by 50.9% during the same period. PNC Financial Services Group Inc. now owns 2,447 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 825 shares.
MetLife Investment Management LLC is another notable player that raised its stake in Werner Enterprises by 38.9% during the first quarter. They now own 69,575 shares valued at $2,853,000 after purchasing an additional 19,471 shares during the period.
Rhumbline Advisers and Commonwealth of Pennsylvania Public School Empls Retrmt SYS have also shown interest in increasing their stakes in Werner Enterprises during the first quarter. Rhumbline Advisers increased their stake by 0.6%, while Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised theirs by 8.7%. These shifts indicate growing confidence in Werner Enterprises among institutional investors and hedge funds.
Overall, it is reported that institutional investors and hedge funds hold approximately 85% ownership of Werner Enterprises’ stock.
On September 14th, NASDAQ WERN opened at $40.12. The company has a debt-to-equity ratio of 0.42 and quick ratio of 1.88 which indicates good financial health for the organization.
Werner Enterprises has had a relatively stable performance with a 50-day simple moving average of $43.64 and a 200-day simple moving average of $44.44. However, the stock has experienced fluctuations between its twelve month low of $35.84 and twelve month high of $50.31.
With a market capitalization of $2.54 billion, Werner Enterprises retains a price-to-earnings ratio of 14.23 and a price-earnings growth ratio of 5.71. This positions the company as an attractive investment opportunity with room for potential growth.
In addition, Werner Enterprises recently announced a quarterly dividend to be paid on October 18th to investors of record on October 2nd. The dividend amount is set at $0.14 per share which represents an annualized dividend yield of 1.40%. The ex-dividend date for this payout is September 29th.
Several research firms have provided their insights on WERN over recent months. Credit Suisse Group raised their price target from $48 to $49, giving the stock a “neutral” rating in their research notes released on August 16th. Similarly, Susquehanna upped their price target to $48 from $45 and reiterated the “neutral” rating on August 4th.
Conversely, Evercore ISI reduced their price target from $46 to $45 on June 27th. StockNews.com improved their rating from “sell” to “hold” in September, while Morgan Stanley dropped their price target to $62 from $65 but maintained an “overweight” rating in August.
The latest consensus from analysts suggests that Werner Enterprises currently has an average rating of “Hold” and an average target price of around $49.18 based on data from Bloomberg.com.
Taking into account the stock’s performance history, trends among institutional investors, and analyst ratings, it seems that Werner Enterprises presents interesting potential within the transportation industry. However, it is always important for investors to conduct thorough due diligence and carefully consider their individual investment goals and risk tolerance before making any decisions.