Envestnet Portfolio Solutions Inc. Has $489,000 Position in Weyerhaeuser Company $WY

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Weyerhaeuser Company by 37.3%, holding a total of 19,018 shares valued at approximately $489,000 as of the latest SEC filing.
• Weyerhaeuser's recent earnings report showed earnings per share of $0.12, exceeding analyst estimates, although the company's revenue decreased by 2.8% compared to the same quarter last year.
• Analyst ratings for Weyerhaeuser are mixed, with one "Strong Buy," seven "Buy," two "Hold," and one "Sell," indicating a consensus rating of "Moderate Buy" and a price target of $32.63.

Envestnet Portfolio Solutions Inc. cut its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 37.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,018 shares of the real estate investment trust's stock after selling 11,305 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Weyerhaeuser were worth $489,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GKV Capital Management Co. Inc. bought a new position in Weyerhaeuser in the first quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in Weyerhaeuser in the first quarter valued at approximately $31,000. Costello Asset Management INC bought a new position in Weyerhaeuser in the first quarter valued at approximately $32,000. Marshall Investment Management LLC bought a new position in Weyerhaeuser in the first quarter valued at approximately $36,000. Finally, Zions Bancorporation National Association UT bought a new position in Weyerhaeuser in the first quarter valued at approximately $40,000. 82.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WY has been the subject of a number of analyst reports. Truist Financial decreased their price target on Weyerhaeuser from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, October 13th. DA Davidson restated a "buy" rating and issued a $35.00 price objective on shares of Weyerhaeuser in a research note on Monday, September 29th. Weiss Ratings restated a "hold (c-)" rating on shares of Weyerhaeuser in a research note on Wednesday, October 8th. Wall Street Zen lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Weyerhaeuser from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.63.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $23.72 on Wednesday. The firm has a market cap of $17.11 billion, a P/E ratio of 62.42, a price-to-earnings-growth ratio of 245.09 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 1-year low of $23.23 and a 1-year high of $32.70. The business's 50 day moving average is $25.04 and its 200-day moving average is $25.63.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results 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. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. Equities research analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. Weyerhaeuser's dividend payout ratio (DPR) is 221.05%.

Insider Buying and Selling at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis bought 4,000 shares of the stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the purchase, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

Weyerhaeuser 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.