Allspring Global Investments Holdings LLC Has $20.36 Million Stock Position in Werner Enterprises, Inc. $WERN

Key Points

• Allspring Global Investments cut its Werner Enterprises stake by 57.4% in Q1, selling 925,642 shares and leaving it with 685,671 shares worth about $20.36 million.
• Analysts remain cautious overall: Werner has a consensus Hold rating and an average price target of $40.85, though several firms recently raised their targets and Zacks upgraded the stock to strong-buy.
• Werner reported Q1 EPS of $0.02, beating expectations, but revenue of $730.14 million came in below estimates; the company also announced a quarterly dividend of $0.14 per share.

Allspring Global Investments Holdings LLC lessened its holdings in shares of Werner Enterprises, Inc. (NASDAQ:WERN - Free Report) by 57.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 685,671 shares of the transportation company's stock after selling 925,642 shares during the period. Allspring Global Investments Holdings LLC owned 1.14% of Werner Enterprises worth $20,358,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State of Alaska Department of Revenue raised its stake in Werner Enterprises by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 30,464 shares of the transportation company's stock worth $914,000 after buying an additional 336 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Werner Enterprises by 0.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,854 shares of the transportation company's stock valued at $3,717,000 after acquiring an additional 401 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Werner Enterprises by 0.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 64,228 shares of the transportation company's stock valued at $1,758,000 after acquiring an additional 503 shares during the period. California State Teachers Retirement System increased its holdings in shares of Werner Enterprises by 1.1% in the second quarter. California State Teachers Retirement System now owns 57,011 shares of the transportation company's stock worth $1,560,000 after acquiring an additional 601 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Werner Enterprises by 41.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,324 shares of the transportation company's stock worth $70,000 after purchasing an additional 679 shares during the period. Institutional investors own 89.32% of the company's stock.

Analysts Set New Price Targets

WERN has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Werner Enterprises from $30.00 to $34.00 and gave the company an "underweight" rating in a research note on Wednesday, April 29th. Robert W. Baird lifted their price objective on shares of Werner Enterprises from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, June 17th. Zacks Research raised shares of Werner Enterprises from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. UBS Group increased their target price on shares of Werner Enterprises from $33.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Stifel Nicolaus raised their target price on shares of Werner Enterprises from $36.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $40.85.

Werner Enterprises Stock Performance

Shares of NASDAQ:WERN opened at $46.31 on Tuesday. Werner Enterprises, Inc. has a 12-month low of $23.06 and a 12-month high of $46.87. The company's 50 day moving average price is $41.95 and its two-hundred day moving average price is $35.90. The firm has a market cap of $2.78 billion, a PE ratio of -308.73, a PEG ratio of 0.90 and a beta of 1.26. The company has a quick ratio of 1.43, a current ratio of 1.46 and a debt-to-equity ratio of 0.66.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. Werner Enterprises had a positive return on equity of 0.66% and a negative net margin of 0.28%.The business had revenue of $730.14 million during the quarter, compared to the consensus estimate of $812.50 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Werner Enterprises's revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts predict that Werner Enterprises, Inc. will post 1.02 earnings per share for the current year.

Werner Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, July 6th. Werner Enterprises's dividend payout ratio is presently -373.33%.

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.

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