Envestnet Asset Management Inc. Purchases 17,748 Shares of Weyerhaeuser Company (NYSE:WY)

Envestnet Asset Management Inc. raised its stake in shares of Weyerhaeuser Company (NYSE:WY) by 3.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 520,443 shares of the real estate investment trust’s stock after purchasing an additional 17,748 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Weyerhaeuser were worth $15,239,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. South Plains Financial Inc. acquired a new position in shares of Weyerhaeuser during the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Weyerhaeuser in the 4th quarter valued at approximately $27,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Weyerhaeuser in the 1st quarter valued at approximately $31,000. TD Waterhouse Canada Inc. grew its position in shares of Weyerhaeuser by 136.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Weyerhaeuser in the 4th quarter valued at approximately $44,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, July 1st. Citigroup decreased their price objective on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, June 3rd. The Goldman Sachs Group lowered Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. Finally, Truist Financial reduced their price target on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Weyerhaeuser Stock Down 1.5%

WY opened at $25.30 on Friday. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. The stock’s fifty day simple moving average is $26.19 and its 200 day simple moving average is $27.70. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The stock has a market cap of $18.35 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 43.15 and a beta of 1.14.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, research analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser’s payout ratio is 168.00%.

Weyerhaeuser declared that its board has authorized a stock repurchase program on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors 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.