Cadence Wealth Management LLC Grows Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Cadence Wealth Management LLC boosted its stake in Nutrien Ltd. (NYSE:NTR) by 6.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,436 shares of the company’s stock after buying an additional 581 shares during the quarter. Nutrien comprises about 0.4% of Cadence Wealth Management LLC’s portfolio, making the stock its 19th largest holding. Cadence Wealth Management LLC’s holdings in Nutrien were worth $532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Townsend & Associates Inc lifted its position in Nutrien by 27.8% in the third quarter. Townsend & Associates Inc now owns 163,942 shares of the company’s stock valued at $10,125,000 after acquiring an additional 35,690 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Nutrien by 2.5% in the third quarter. CIBC Asset Management Inc now owns 6,361,084 shares of the company’s stock valued at $394,047,000 after buying an additional 154,159 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Nutrien by 64.6% in the third quarter. Canoe Financial LP now owns 75,945 shares of the company’s stock valued at $4,690,000 after buying an additional 29,819 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Nutrien in the fourth quarter valued at about $3,433,000. Finally, First Eagle Investment Management LLC raised its holdings in shares of Nutrien by 0.5% in the third quarter. First Eagle Investment Management LLC now owns 9,262,659 shares of the company’s stock valued at $572,062,000 after buying an additional 48,230 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Price Performance

Shares of NTR stock traded up $0.50 during trading hours on Friday, hitting $52.55. The company’s stock had a trading volume of 1,227,851 shares, compared to its average volume of 1,711,381. The business has a fifty day moving average of $53.23 and a 200-day moving average of $53.98. The stock has a market cap of $25.99 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.96 and a beta of 0.89. Nutrien Ltd. has a twelve month low of $47.90 and a twelve month high of $70.07. The company has a current ratio of 1.17, a quick ratio of 0.65 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.35). The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.36 billion. Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.02 earnings per share. As a group, equities research analysts anticipate that Nutrien Ltd. will post 3.82 EPS for the current year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a $0.54 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from Nutrien’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 4.11%. Nutrien’s dividend payout ratio is currently 85.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NTR shares. HSBC reduced their target price on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a report on Friday, March 8th. Jefferies Financial Group began coverage on shares of Nutrien in a research note on Tuesday, March 26th. They set a “buy” rating and a $62.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Nutrien from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Berenberg Bank dropped their price target on shares of Nutrien from $67.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 8th. Finally, Piper Sandler lowered shares of Nutrien from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $68.00 to $54.00 in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.95.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.