Weyerhaeuser Company (NYSE:WY) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 14.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 164,729 shares of the real estate investment trust’s stock after acquiring an additional 21,106 shares during the period. PNC Financial Services Group Inc.’s holdings in Weyerhaeuser were worth $4,823,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WY. Cohen & Steers Inc. lifted its position in Weyerhaeuser by 57.5% during the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock worth $1,095,726,000 after acquiring an additional 14,213,243 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Weyerhaeuser by 63.9% in the first quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust’s stock valued at $212,733,000 after purchasing an additional 2,833,288 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of Weyerhaeuser by 23,525.2% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,428,378 shares of the real estate investment trust’s stock worth $41,823,000 after purchasing an additional 1,422,332 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Weyerhaeuser by 43.6% during the fourth quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust’s stock worth $118,140,000 after purchasing an additional 1,273,217 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Weyerhaeuser in the fourth quarter valued at approximately $27,332,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $25.56 on Thursday. The company has a market capitalization of $18.44 billion, a PE ratio of 67.28, a price-to-earnings-growth ratio of 67.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The company’s fifty day moving average price is $26.10 and its 200 day moving average price is $27.44. Weyerhaeuser Company has a 1 year low of $24.10 and a 1 year high of $34.03.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser declared that its Board of Directors has initiated a share repurchase program on Thursday, May 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on WY. DA Davidson reduced their price target on shares of Weyerhaeuser from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 1st. Wall Street Zen cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Sunday. Truist Financial lowered their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, July 28th. Finally, CIBC reduced their price objective on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.88.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.