LPL Financial LLC Lowers Position in Weyerhaeuser Company (NYSE:WY)

LPL Financial LLC reduced its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,137 shares of the real estate investment trust's stock after selling 41,964 shares during the period. LPL Financial LLC owned about 0.07% of Weyerhaeuser worth $15,493,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cohen & Steers Inc. increased its holdings 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 worth $1,095,726,000 after acquiring an additional 14,213,243 shares during the last quarter. Northern Trust Corp raised its position in shares of 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 valued at $268,498,000 after purchasing an additional 322,313 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Weyerhaeuser by 2.4% during the 1st 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 holdings in shares of Weyerhaeuser by 63.9% during the 1st 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 grew its stake in Weyerhaeuser by 43.6% in the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock valued at $118,140,000 after buying an additional 1,273,217 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on WY. Wall Street Zen downgraded Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. DA Davidson decreased their target price on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Truist Financial dropped their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, July 28th. CIBC cut their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup cut their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.88.

Weyerhaeuser Trading Down 0.9%

WY stock traded down $0.22 during midday trading on Friday, hitting $25.49. The stock had a trading volume of 2,407,124 shares, compared to its average volume of 4,088,798. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The firm has a market cap of $18.39 billion, a P/E ratio of 67.08, a price-to-earnings-growth ratio of 66.83 and a beta of 1.08. The business has a fifty day moving average price of $26.09 and a two-hundred day moving average price of $27.41. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm 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 company's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.3%. Weyerhaeuser's payout ratio is currently 221.05%.

Weyerhaeuser declared that its board has authorized a share repurchase plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.