Healthcare of Ontario Pension Plan Trust Fund Lowers Position in Weyerhaeuser (NYSE:WY)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Weyerhaeuser (NYSE:WY) by 66.0% in the first quarter, Holdings Channel.com reports. The firm owned 242,322 shares of the real estate investment trust’s stock after selling 469,935 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Weyerhaeuser were worth $8,702,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Weyerhaeuser during the fourth quarter worth approximately $753,497,000. Wellington Management Group LLP grew its stake in Weyerhaeuser by 53.2% during the fourth quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock worth $1,028,191,000 after buying an additional 10,271,891 shares during the period. Confluence Investment Management LLC purchased a new stake in Weyerhaeuser during the first quarter worth approximately $81,507,000. M&G Plc purchased a new stake in Weyerhaeuser during the first quarter worth approximately $60,792,000. Finally, Principal Financial Group Inc. grew its stake in Weyerhaeuser by 145.0% during the first quarter. Principal Financial Group Inc. now owns 2,491,743 shares of the real estate investment trust’s stock worth $89,479,000 after buying an additional 1,474,806 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WY shares. Royal Bank of Canada decreased their price objective on shares of Weyerhaeuser from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Truist Financial reduced their target price on shares of Weyerhaeuser from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Weyerhaeuser Stock Up 2.0 %

WY traded up $0.61 during trading on Thursday, hitting $30.48. The company had a trading volume of 1,664,530 shares, compared to its average volume of 3,492,586. The company has a market cap of $22.22 billion, a PE ratio of 27.15 and a beta of 1.39. The business has a 50-day moving average of $29.25 and a 200-day moving average of $31.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.24 and a quick ratio of 1.57. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Weyerhaeuser had a net margin of 10.57% and a return on equity of 7.00%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, analysts forecast that Weyerhaeuser will post 0.79 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.20 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.80 annualized dividend and a yield of 2.62%. Weyerhaeuser’s dividend payout ratio is presently 72.73%.

Insider Activity at Weyerhaeuser

In other Weyerhaeuser news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $29.40, for a total transaction of $169,814.40. Following the completion of the sale, the director now owns 5,790 shares in the company, valued at $170,226. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

About Weyerhaeuser

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.