Corebridge Financial Inc. Cuts Stock Holdings in Werner Enterprises, Inc. (NASDAQ:WERN)

Corebridge Financial Inc. lowered its stake in Werner Enterprises, Inc. (NASDAQ:WERN) by 7.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 32,848 shares of the transportation company’s stock after selling 2,565 shares during the period. Corebridge Financial Inc.’s holdings in Werner Enterprises were worth $1,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in Werner Enterprises by 13.4% during the 4th quarter. American Century Companies Inc. now owns 1,987,187 shares of the transportation company’s stock worth $71,380,000 after acquiring an additional 234,811 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Werner Enterprises by 9.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,660,846 shares of the transportation company’s stock worth $59,010,000 after purchasing an additional 143,953 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Werner Enterprises in the fourth quarter worth approximately $2,791,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Werner Enterprises by 672.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,632 shares of the transportation company’s stock valued at $2,717,000 after buying an additional 65,845 shares during the last quarter. Finally, Barclays PLC boosted its position in Werner Enterprises by 12.8% during the 3rd quarter. Barclays PLC now owns 435,447 shares of the transportation company’s stock valued at $16,804,000 after buying an additional 49,568 shares during the period. Institutional investors own 89.32% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WERN. Susquehanna decreased their price objective on shares of Werner Enterprises from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on Werner Enterprises from $34.00 to $27.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. StockNews.com cut Werner Enterprises from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus boosted their target price on Werner Enterprises from $30.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, Barclays dropped their price target on Werner Enterprises from $38.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.73.

Werner Enterprises Stock Performance

Werner Enterprises stock opened at $27.90 on Friday. Werner Enterprises, Inc. has a twelve month low of $26.55 and a twelve month high of $42.48. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.73 billion, a P/E ratio of 50.73 and a beta of 0.85. The stock’s 50 day moving average is $32.40 and its 200 day moving average is $35.94.

Werner Enterprises (NASDAQ:WERN) last issued its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.15). Werner Enterprises had a net margin of 1.13% and a return on equity of 2.27%. On average, equities research analysts predict that Werner Enterprises, Inc. will post 1.27 earnings per share for the current fiscal year.

Werner Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be paid a $0.14 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.01%. Werner Enterprises’s dividend payout ratio is presently 101.82%.

Werner Enterprises Company Profile

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.