Trading Report: Today: PNC Financial Services Group Inc. reduces its investment in Weyerhaeuser Co. (WY)

Today: PNC Financial Services Group Inc. reduces its investment in Weyerhaeuser Co. (WY)

PNC Financial Services Group Inc. reduced its stake in Weyerhaeuser Co. (NYSE:WY) by 8.2% during the third quarter, Holdings Channel reports. The fund owned 822,831 shares of the real estate investment trust’s stock after selling 73,581 shares during the period. PNC Financial Services Group Inc. owned 0.11% of Weyerhaeuser worth $26,281,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WY. Capital World Investors increased its stake in shares of Weyerhaeuser by 37.0% in the second quarter. Capital World Investors now owns 22,619,766 shares of the real estate investment trust’s stock valued at $673,390,000 after buying an additional 6,112,230 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Weyerhaeuser by 253.5% in the second quarter. 1832 Asset Management L.P. now owns 5,435,470 shares of the real estate investment trust’s stock valued at $162,871,000 after buying an additional 3,897,970 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Weyerhaeuser by 41,014.9% in the second quarter. Point72 Asset Management L.P. now owns 1,693,521 shares of the real estate investment trust’s stock valued at $50,416,000 after buying an additional 1,689,402 shares during the period. Bank of Montreal Can purchased a new stake in shares of Weyerhaeuser during the second quarter valued at approximately $35,119,000. Finally, First Eagle Investment Management LLC increased its stake in shares of Weyerhaeuser by 2.9% in the second quarter. First Eagle Investment Management LLC now owns 37,142,044 shares of the real estate investment trust’s stock valued at $1,105,719,000 after buying an additional 1,046,922 shares during the period. Institutional investors own 76.00% of the company’s stock.

Weyerhaeuser Co. (NYSE:WY) traded down 1.609% during midday trading on Monday, reaching $31.485. 3,080,748 shares of the company’s stock were exchanged. Weyerhaeuser Co. has a 52 week low of $22.06 and a 52 week high of $33.17. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 40.890 and a beta of 1.39. The firm’s 50 day moving average is $30.52 and its 200 day moving average is $30.93.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Friday, October 28th. The real estate investment trust reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. The business earned $1.66 billion during the quarter, compared to the consensus estimate of $1.71 billion. Weyerhaeuser had a net margin of 7.88% and a return on equity of 7.05%. The firm’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities analysts anticipate that Weyerhaeuser Co. will post $1.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, October 28th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, October 26th. This represents a $1.24 annualized dividend and a dividend yield of 3.88%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 169.86%.

A number of analysts have recently issued reports on the stock. DA Davidson downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Monday, August 8th. Citigroup Inc. raised their price target on shares of Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a report on Monday, August 8th. Dundee Securities downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. Argus reaffirmed a “buy” rating and set a $35.00 price target on shares of Weyerhaeuser in a report on Tuesday, September 20th. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Weyerhaeuser in a report on Thursday, September 22nd. They set a “buy” rating and a $37.00 price target on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $35.50.

In other news, SVP Denise M. Merle sold 15,049 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $31.12, for a total transaction of $468,324.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.

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