Cadence Wealth Management LLC Makes New Investment in Nutrien Ltd. $NTR

Cadence Wealth Management LLC acquired a new stake in Nutrien Ltd. (NYSE:NTR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,437 shares of the company’s stock, valued at approximately $1,161,000. Nutrien makes up approximately 0.5% of Cadence Wealth Management LLC’s portfolio, making the stock its 24th biggest position.

A number of other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nutrien by 65.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock worth $1,253,000 after buying an additional 9,950 shares during the period. NewEdge Advisors LLC lifted its holdings in Nutrien by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock worth $343,000 after buying an additional 404 shares in the last quarter. Focus Partners Wealth acquired a new position in Nutrien in the 1st quarter worth $516,000. Acadian Asset Management LLC purchased a new position in Nutrien in the 1st quarter valued at about $54,000. Finally, Prudential Financial Inc. purchased a new position in Nutrien in the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

Nutrien stock opened at $75.36 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. Nutrien Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36. The company has a fifty day moving average price of $66.42 and a two-hundred day moving average price of $70.42. The company has a market cap of $36.05 billion, a PE ratio of 15.26, a P/E/G ratio of 0.75 and a beta of 0.61.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the company posted $2.65 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts expect that Nutrien Ltd. will post 4.95 earnings per share for the current year.

Nutrien Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 2.9%. Nutrien’s dividend payout ratio is 44.53%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NTR shares. Scotia raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, June 30th. Scotiabank raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target for the company in a report on Tuesday, June 30th. Weiss Ratings upgraded Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Mizuho lowered their price objective on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.58.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.