PNC Financial Services Group Inc. Boosts Stock Position in Weyerhaeuser Company (NYSE:WY)

Key Points

• PNC Financial Services Group Inc. increased its stake in Weyerhaeuser Company by 14.7%, now holding 164,729 shares valued at approximately $4.82 million.
• Weyerhaeuser's recent earnings report showed a net margin of 3.97% and earnings per share of $0.12, exceeding analysts' expectations.
• The company has initiated a $1 billion share repurchase program, indicating management's belief that the stock is undervalued.

PNC Financial Services Group Inc. boosted its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 14.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,729 shares of the real estate investment trust's stock after purchasing an additional 21,106 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Weyerhaeuser were worth $4,823,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WY. Cohen & Steers Inc. increased its position in shares of 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 valued at $1,095,726,000 after purchasing an additional 14,213,243 shares during the last quarter. Northern Trust Corp lifted its position in Weyerhaeuser by 3.5% in the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock worth $268,498,000 after buying an additional 322,313 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Weyerhaeuser by 2.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,065,565 shares of the real estate investment trust's stock worth $264,171,000 after buying an additional 213,062 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Weyerhaeuser by 63.9% during the first quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock worth $212,733,000 after buying an additional 2,833,288 shares during the period. Finally, Deutsche Bank AG increased its position in 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 valued at $118,140,000 after acquiring an additional 1,273,217 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

Shares of WY stock opened at $25.56 on Thursday. The stock's 50-day moving average is $26.10 and its 200 day moving average is $27.44. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The company has a market cap of $18.44 billion, a P/E ratio of 67.28, a PEG ratio of 67.48 and a beta of 1.08.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the business earned $0.21 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal 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 repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday. JPMorgan Chase & Co. dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. DA Davidson cut their target price on Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Finally, Truist Financial dropped their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a report on Monday, July 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and an average target price 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.

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