Naviter Wealth LLC Has $2.49 Million Stake in BHP Group Limited (NYSE:BHP)

Naviter Wealth LLC trimmed its holdings in BHP Group Limited (NYSE:BHP - Free Report) by 22.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,026 shares of the mining company's stock after selling 15,052 shares during the quarter. Naviter Wealth LLC's holdings in BHP Group were worth $2,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHP. Nisa Investment Advisors LLC lifted its holdings in BHP Group by 53.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the mining company's stock worth $127,000 after buying an additional 700 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of BHP Group by 21.4% during the third quarter. Stephens Inc. AR now owns 5,341 shares of the mining company's stock valued at $332,000 after acquiring an additional 942 shares during the period. Van ECK Associates Corp boosted its holdings in BHP Group by 1.6% in the third quarter. Van ECK Associates Corp now owns 93,874 shares of the mining company's stock valued at $5,831,000 after acquiring an additional 1,464 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in BHP Group by 4.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 140,927 shares of the mining company's stock valued at $8,753,000 after acquiring an additional 6,525 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in BHP Group by 11.4% in the third quarter. Confluence Investment Management LLC now owns 8,657 shares of the mining company's stock worth $538,000 after purchasing an additional 885 shares during the period. Institutional investors and hedge funds own 3.79% of the company's stock.

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BHP Group Stock Down 2.8 %

Shares of BHP stock traded down $1.40 during trading hours on Wednesday, hitting $48.39. 3,710,470 shares of the company were exchanged, compared to its average volume of 2,418,565. BHP Group Limited has a 52 week low of $48.06 and a 52 week high of $63.21. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $49.90 and a two-hundred day moving average of $52.82. The company has a market capitalization of $122.69 billion, a PE ratio of 11.00 and a beta of 0.90.

BHP Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 7th will be paid a $1.00 dividend. This represents a dividend yield of 4.8%. The ex-dividend date is Friday, March 7th. BHP Group's dividend payout ratio is 44.77%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BHP shares. Jefferies Financial Group cut their price objective on shares of BHP Group from $57.00 to $53.00 and set a "hold" rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of BHP Group from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Clarkson Capital raised BHP Group to a "strong-buy" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, BHP Group currently has a consensus rating of "Buy" and an average target price of $53.00.

BHP Group Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.