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

Allspring Global Investments Holdings LLC cut its holdings in Werner Enterprises, Inc. (NASDAQ:WERN) by 57.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 685,671 shares of the transportation company’s stock after selling 925,642 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Werner Enterprises were worth $20,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WERN. PNC Financial Services Group Inc. increased its holdings in Werner Enterprises by 41.3% in 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 in the last quarter. GAMMA Investing LLC lifted its stake in Werner Enterprises by 49.0% in the fourth quarter. GAMMA Investing LLC now owns 2,429 shares of the transportation company’s stock valued at $73,000 after buying an additional 799 shares during the period. Covestor Ltd boosted its holdings in shares of Werner Enterprises by 28.3% during the 4th quarter. Covestor Ltd now owns 3,261 shares of the transportation company’s stock worth $98,000 after buying an additional 719 shares in the last quarter. KBC Group NV boosted its holdings in shares of Werner Enterprises by 86.9% during the 4th quarter. KBC Group NV now owns 3,614 shares of the transportation company’s stock worth $108,000 after buying an additional 1,680 shares in the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Werner Enterprises during the 4th quarter worth approximately $217,000. 89.32% of the stock is owned by institutional investors and hedge funds.

Werner Enterprises Price Performance

Werner Enterprises stock opened at $46.31 on Tuesday. Werner Enterprises, Inc. has a 52 week low of $23.06 and a 52 week 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 stock has a market cap of $2.78 billion, a P/E ratio of -308.73, a P/E/G 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) last announced its earnings results on Tuesday, April 28th. The transportation company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The firm had revenue of $730.14 million during the quarter, compared to analyst estimates of $812.50 million. Werner Enterprises had a positive return on equity of 0.66% and a negative net margin of 0.28%.The business’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. On average, equities analysts predict that Werner Enterprises, Inc. will post 1.02 earnings per share for the current year.

Werner Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be paid 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 payout ratio is currently -373.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted 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. Wells Fargo & Company raised their price target on shares of Werner Enterprises from $39.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, June 5th. Weiss Ratings raised shares of Werner Enterprises from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. TD Cowen lifted their price target on shares of Werner Enterprises from $36.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Susquehanna upped their price objective on shares of Werner Enterprises from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Werner Enterprises has a consensus rating of “Hold” and a consensus price target of $40.85.

Werner Enterprises Company 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.