Lincoln National Corp lessened its stake in shares of Weyerhaeuser (NYSE:WY – Get Rating) by 85.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,678 shares of the real estate investment trust’s stock after selling 40,162 shares during the period. Lincoln National Corp’s holdings in Weyerhaeuser were worth $207,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of WY. First Trust Advisors LP grew its stake in Weyerhaeuser by 942.2% during the 3rd quarter. First Trust Advisors LP now owns 5,097,910 shares of the real estate investment trust’s stock valued at $145,596,000 after acquiring an additional 4,608,773 shares in the last quarter. Pictet Asset Management SA grew its stake in Weyerhaeuser by 82.3% during the 3rd quarter. Pictet Asset Management SA now owns 10,140,377 shares of the real estate investment trust’s stock valued at $289,461,000 after acquiring an additional 4,576,865 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Weyerhaeuser by 10.9% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 39,975,270 shares of the real estate investment trust’s stock valued at $1,141,696,000 after acquiring an additional 3,916,466 shares in the last quarter. Pacer Advisors Inc. grew its stake in Weyerhaeuser by 51.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,572,652 shares of the real estate investment trust’s stock valued at $110,752,000 after acquiring an additional 1,208,077 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Weyerhaeuser during the 1st quarter valued at about $31,014,000. Institutional investors and hedge funds own 80.86% of the company’s stock.
Analysts Set New Price Targets
WY has been the topic of several research analyst reports. DA Davidson raised Weyerhaeuser from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $35.00 in a research note on Monday, April 10th. BMO Capital Markets lowered their price target on Weyerhaeuser from $42.00 to $36.00 and set a “market perform” rating for the company in a research note on Monday, February 6th. Truist Financial lowered their price target on Weyerhaeuser from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, April 11th. StockNews.com began coverage on Weyerhaeuser in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Citigroup lowered their price target on Weyerhaeuser from $39.00 to $36.00 in a research note on Thursday, April 6th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.86.
Weyerhaeuser Stock Down 1.2 %
Weyerhaeuser (NYSE:WY – Get Rating) last announced its earnings results on Friday, April 28th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Weyerhaeuser had a return on equity of 13.37% and a net margin of 14.07%. The company’s revenue was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. Equities analysts expect that Weyerhaeuser will post 0.87 earnings per share for the current year.
Weyerhaeuser Co engages in the manufacture, distribution, and sale of forest products. It operates through the following business segments: Timberlands, Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products. The Timberlands segment manages private commercial forestland worldwide, engages in growing and harvesting trees for lumber, building, pulp, paper and other wood products.
- Get a free copy of the StockNews.com research report on Weyerhaeuser (WY)
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