Cadence Bank Boosts Stock Position in Nutrien Ltd. (NYSE:NTR)

Cadence Bank boosted its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 33.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,011 shares of the company's stock after acquiring an additional 30,657 shares during the quarter. Cadence Bank's holdings in Nutrien were worth $5,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of NTR. Covea Finance lifted its holdings in shares of Nutrien by 21.9% during the fourth quarter. Covea Finance now owns 55,600 shares of the company's stock worth $2,485,000 after purchasing an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nutrien by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company's stock worth $84,367,000 after acquiring an additional 144,025 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Nutrien by 5.7% in the fourth quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company's stock valued at $66,264,000 after acquiring an additional 80,382 shares in the last quarter. Secured Retirement Advisors LLC acquired a new position in shares of Nutrien during the fourth quarter worth about $654,000. Finally, Abel Hall LLC purchased a new position in Nutrien during the fourth quarter worth about $276,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NTR. Wells Fargo & Company boosted their target price on Nutrien from $53.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upgraded shares of Nutrien from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Scotiabank increased their price target on shares of Nutrien from $60.00 to $62.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. BNP Paribas raised shares of Nutrien to a "strong-buy" rating in a report on Wednesday, April 9th. Finally, Mizuho upped their target price on shares of Nutrien from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.40.

Nutrien Price Performance

Nutrien stock opened at $52.50 on Friday. The firm's 50-day moving average is $50.85 and its two-hundred day moving average is $49.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The stock has a market capitalization of $25.66 billion, a P/E ratio of 38.32, a P/E/G ratio of 1.19 and a beta of 0.77. Nutrien Ltd. has a 12-month low of $43.70 and a 12-month high of $60.87.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The firm had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.09 billion. Equities analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $0.545 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.15%. Nutrien's dividend payout ratio (DPR) is presently 159.12%.

Nutrien Company 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.

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