Cadence Wealth Management LLC Acquires 581 Shares of Nutrien Ltd. (NYSE:NTR)

Cadence Wealth Management LLC grew its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,436 shares of the company’s stock after buying an additional 581 shares during the quarter. Nutrien accounts for about 0.4% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Cadence Wealth Management LLC’s holdings in Nutrien were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NTR. Legacy Financial Group LLC bought a new position in Nutrien in the third quarter worth approximately $28,000. Exchange Traded Concepts LLC grew its stake in Nutrien by 904.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 753 shares of the company’s stock worth $42,000 after purchasing an additional 678 shares in the last quarter. Evolution Advisers Inc. bought a new position in Nutrien in the fourth quarter worth approximately $49,000. CVA Family Office LLC bought a new position in Nutrien in the fourth quarter worth approximately $57,000. Finally, NBC Securities Inc. bought a new position in Nutrien in the third quarter worth approximately $58,000. Institutional investors own 63.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HSBC dropped their price objective on Nutrien from $63.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, March 8th. Piper Sandler lowered Nutrien from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $68.00 to $54.00 in a report on Thursday, February 29th. CIBC lowered their target price on Nutrien from $87.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Wells Fargo & Company lowered their target price on Nutrien from $77.00 to $69.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Finally, The Goldman Sachs Group lowered their target price on Nutrien from $88.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.95.

Nutrien Stock Performance

Shares of NYSE NTR traded up $0.50 during mid-day trading on Friday, hitting $52.55. The stock had a trading volume of 1,227,851 shares, compared to its average volume of 1,711,381. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.65 and a current ratio of 1.17. The company has a 50 day moving average of $53.23 and a two-hundred day moving average of $53.98. Nutrien Ltd. has a twelve month low of $47.90 and a twelve month high of $70.07. The firm has a market cap of $25.99 billion, a PE ratio of 20.77, a PEG ratio of 1.96 and a beta of 0.89.

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

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were given a dividend of $0.54 per share. This is an increase from Nutrien’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Wednesday, March 27th. Nutrien’s dividend payout ratio (DPR) is currently 85.38%.

Nutrien Profile

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.