State Treasurer State of Michigan boosted its stake in shares of Werner Enterprises, Inc. (NASDAQ:WERN) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 18,475 shares of the transportation company’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in Werner Enterprises were worth $542,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in shares of Werner Enterprises by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the transportation company’s stock valued at $343,000 after buying an additional 400 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Werner Enterprises by 17.2% in the second quarter. LS Investment Advisors LLC now owns 3,636 shares of the transportation company’s stock valued at $107,000 after buying an additional 533 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Werner Enterprises by 8.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,469 shares of the transportation company’s stock valued at $483,000 after buying an additional 1,226 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Werner Enterprises by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 28,559 shares of the transportation company’s stock valued at $838,000 after buying an additional 160 shares during the last quarter. Finally, UBS Oconnor LLC increased its stake in shares of Werner Enterprises by 85.7% in the first quarter. UBS Oconnor LLC now owns 420,000 shares of the transportation company’s stock valued at $11,004,000 after buying an additional 193,877 shares during the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

Shares of Werner Enterprises, Inc. (NASDAQ:WERN) traded down 1.236% during trading on Thursday, hitting $29.975. 328,231 shares of the company’s stock were exchanged. Werner Enterprises, Inc. has a 12-month low of $21.45 and a 12-month high of $32.45. The company has a market cap of $2.17 billion, a P/E ratio of 27.250 and a beta of 0.88. The company has a 50-day moving average of $29.55 and a 200-day moving average of $27.74.

Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings data on Monday, July 24th. The transportation company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.05. The company had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $521.63 million. Werner Enterprises had a net margin of 3.90% and a return on equity of 7.97%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities analysts expect that Werner Enterprises, Inc. will post $1.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Wednesday, July 5th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Werner Enterprises’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, June 30th. Werner Enterprises’s dividend payout ratio is 25.45%.

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Several analysts have recently commented on the stock. Deutsche Bank AG restated a “hold” rating and set a $32.00 price objective (up from $25.00) on shares of Werner Enterprises in a research report on Wednesday. Zacks Investment Research downgraded shares of Werner Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Morgan Stanley restated an “overweight” rating and set a $32.00 price objective (up from $30.00) on shares of Werner Enterprises in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating and set a $29.00 price objective (up from $26.00) on shares of Werner Enterprises in a research report on Tuesday, July 25th. Finally, Cowen and Company raised their price objective on shares of Werner Enterprises from $27.00 to $31.00 and gave the company a “market perform” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Werner Enterprises has a consensus rating of “Hold” and an average price target of $29.80.

In other news, CEO Derek J. Leathers sold 12,756 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $30.00, for a total value of $382,680.00. Following the completion of the sale, the chief executive officer now directly owns 241,536 shares in the company, valued at $7,246,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jim S. Schelble sold 7,494 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $29.50, for a total transaction of $221,073.00. Following the completion of the sale, the vice president now owns 55,300 shares of the company’s stock, valued at $1,631,350. The disclosure for this sale can be found here. Insiders sold 39,994 shares of company stock valued at $1,197,593 over the last quarter. Company insiders own 34.80% of the company’s stock.

Werner Enterprises Company Profile

Werner Enterprises, Inc is a transportation and logistics company. The Company is engaged in transporting truckload shipments of general commodities in both interstate and intrastate commerce. It operates through two segments: Truckload and Werner Logistics. It provides logistics services through its Werner Logistics division.

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Institutional Ownership by Quarter for Werner Enterprises (NASDAQ:WERN)

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