Covington Capital Management Sells 556 Shares of Weyerhaeuser (NYSE:WY)

Covington Capital Management decreased its position in shares of Weyerhaeuser (NYSE:WYGet Rating) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,088 shares of the real estate investment trust’s stock after selling 556 shares during the quarter. Covington Capital Management’s holdings in Weyerhaeuser were worth $169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DeDora Capital Inc. purchased a new stake in Weyerhaeuser during the 1st quarter worth about $27,000. Rosenberg Matthew Hamilton raised its holdings in shares of Weyerhaeuser by 44.1% in the 1st quarter. Rosenberg Matthew Hamilton now owns 820 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 251 shares in the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Weyerhaeuser by 44.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 917 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 284 shares in the last quarter. Accel Wealth Management raised its holdings in shares of Weyerhaeuser by 60.5% in the 1st quarter. Accel Wealth Management now owns 963 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 363 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Weyerhaeuser in the 1st quarter valued at about $38,000. Institutional investors own 81.09% of the company’s stock.

Weyerhaeuser Price Performance

Shares of WY stock opened at $30.73 on Monday. The firm has a market cap of $22.75 billion, a P/E ratio of 9.37 and a beta of 1.48. Weyerhaeuser has a fifty-two week low of $30.60 and a fifty-two week high of $43.04. The business’s 50 day moving average price is $35.01 and its 200-day moving average price is $37.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.59 and a current ratio of 3.20.

Weyerhaeuser (NYSE:WYGet Rating) last released its earnings results on Friday, July 29th. The real estate investment trust reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.02). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Weyerhaeuser had a net margin of 23.10% and a return on equity of 24.49%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 EPS. On average, equities research analysts anticipate that Weyerhaeuser will post 3.14 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 1st. Weyerhaeuser’s payout ratio is currently 21.95%.

Analyst Ratings Changes

Several equities analysts have recently commented on WY shares. Raymond James reduced their price objective on Weyerhaeuser from $50.00 to $45.00 and set a “strong-buy” rating on the stock in a research report on Monday, September 12th. Truist Financial started coverage on Weyerhaeuser in a research report on Wednesday, June 29th. They set a “hold” rating and a $37.00 price objective on the stock. StockNews.com upgraded Weyerhaeuser from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Argus lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, The Goldman Sachs Group reduced their price target on Weyerhaeuser from $49.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Weyerhaeuser Profile

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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.

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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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