Cim Investment Management Inc. Acquires New Position in Werner Enterprises, Inc. (NASDAQ:WERN)

Cim Investment Management Inc. purchased a new position in Werner Enterprises, Inc. (NASDAQ:WERN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,250 shares of the transportation company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WERN. Nuance Investments LLC boosted its stake in shares of Werner Enterprises by 24.5% in the third quarter. Nuance Investments LLC now owns 3,943,893 shares of the transportation company’s stock worth $152,195,000 after acquiring an additional 776,277 shares during the period. Deprince Race & Zollo Inc. grew its stake in Werner Enterprises by 37.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,665,309 shares of the transportation company’s stock valued at $59,668,000 after acquiring an additional 450,522 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Werner Enterprises by 3.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,516,893 shares of the transportation company’s stock worth $58,537,000 after purchasing an additional 56,551 shares in the last quarter. American Century Companies Inc. grew its position in shares of Werner Enterprises by 15.5% during the second quarter. American Century Companies Inc. now owns 1,506,663 shares of the transportation company’s stock valued at $53,984,000 after purchasing an additional 201,843 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Werner Enterprises by 65.5% in the second quarter. AQR Capital Management LLC now owns 879,371 shares of the transportation company’s stock worth $31,455,000 after buying an additional 348,154 shares in the last quarter. 89.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WERN has been the topic of a number of research reports. Barclays boosted their target price on shares of Werner Enterprises from $36.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price objective on shares of Werner Enterprises from $37.00 to $34.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. TD Cowen upped their price target on shares of Werner Enterprises from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus dropped their target price on Werner Enterprises from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley dropped their price objective on Werner Enterprises from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.57.

Werner Enterprises Price Performance

Shares of WERN opened at $39.64 on Friday. The firm has a market capitalization of $2.45 billion, a PE ratio of 54.30, a price-to-earnings-growth ratio of 34.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.53 and a quick ratio of 1.49. The company’s fifty day moving average price is $38.78 and its 200-day moving average price is $37.50. Werner Enterprises, Inc. has a 1-year low of $33.12 and a 1-year high of $43.26.

Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Werner Enterprises had a return on equity of 3.58% and a net margin of 1.48%. The business had revenue of $745.70 million for the quarter, compared to analysts’ expectations of $765.24 million. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts predict that Werner Enterprises, Inc. will post 0.68 EPS for the current year.

Werner Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, January 2nd. Werner Enterprises’s payout ratio is presently 76.71%.

About Werner Enterprises

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.