Prudential Financial Inc. Sells 239,711 Shares of Weyerhaeuser (NYSE:WY)

Prudential Financial Inc. lowered its holdings in shares of Weyerhaeuser (NYSE:WY) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 388,794 shares of the real estate investment trust’s stock after selling 239,711 shares during the quarter. Prudential Financial Inc. owned 0.05% of Weyerhaeuser worth $10,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. United Services Automobile Association increased its stake in Weyerhaeuser by 11.6% during the fourth quarter. United Services Automobile Association now owns 16,453 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 1,704 shares during the last quarter. Congress Wealth Management LLC DE increased its position in shares of Weyerhaeuser by 2.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 55,426 shares of the real estate investment trust’s stock valued at $1,560,000 after purchasing an additional 1,253 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Weyerhaeuser during the 4th quarter valued at $11,150,000. Sei Investments Co. lifted its position in Weyerhaeuser by 30.5% in the fourth quarter. Sei Investments Co. now owns 3,150,216 shares of the real estate investment trust’s stock worth $88,678,000 after buying an additional 736,691 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Weyerhaeuser by 31.2% during the fourth quarter. American Century Companies Inc. now owns 342,740 shares of the real estate investment trust’s stock worth $9,648,000 after buying an additional 81,484 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WY. Truist Financial reduced their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, December 6th. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. CIBC upgraded Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target on the stock in a report on Wednesday, January 15th. Finally, Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Weyerhaeuser has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Weyerhaeuser Trading Down 0.7 %

WY opened at $29.38 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average is $30.02 and its two-hundred day moving average is $30.71. The company has a market capitalization of $21.32 billion, a P/E ratio of 53.41, a PEG ratio of 4.74 and a beta of 1.43. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.10.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. Analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s dividend payout ratio is presently 152.73%.

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.