Nutrien Ltd. $NTR Shares Bought by Cadence Bank

Key Points

• Cadence Bank increased its holdings in Nutrien Ltd. by 7.0%, owning 129,465 shares valued at approximately $6.43 million after acquiring additional shares in the first quarter.
• Nutrien reported earnings of $2.65 per share, exceeding analysts' expectations and showing a 2.8% revenue increase year-over-year with total revenue of $10.30 billion.
• The company declared a quarterly dividend of $0.545 per share, representing an annualized yield of 3.8%, with the ex-dividend date set for September 29.

Cadence Bank grew its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,465 shares of the company's stock after purchasing an additional 8,454 shares during the quarter. Cadence Bank's holdings in Nutrien were worth $6,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTR. Harbour Investments Inc. raised its stake in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after acquiring an additional 348 shares in the last quarter. Allworth Financial LP lifted its holdings in Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after acquiring an additional 506 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Nutrien by 1,074.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock valued at $51,000 after purchasing an additional 935 shares during the period. GAMMA Investing LLC boosted its holdings in Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after buying an additional 1,022 shares in the last quarter. Finally, HM Payson & Co. acquired a new stake in Nutrien in the first quarter valued at $65,000. Hedge funds and other institutional investors own 63.10% of the company's stock.

Wall Street Analyst Weigh In

NTR has been the subject of several recent analyst reports. Zacks Research upgraded Nutrien from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. TD Securities boosted their target price on shares of Nutrien from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, August 11th. Barclays increased their price target on shares of Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $66.00 price target (up previously from $63.00) on shares of Nutrien in a report on Friday, July 11th. Finally, Bank of America upped their price objective on Nutrien from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.65.

Nutrien Stock Up 0.5%

NYSE NTR traded up $0.30 during trading hours on Tuesday, hitting $58.57. The company had a trading volume of 1,605,589 shares, compared to its average volume of 2,104,081. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 0.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The firm's 50 day moving average is $59.12 and its 200 day moving average is $55.79.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm had revenue of $10.30 billion during the quarter, compared to the consensus estimate of $10.40 billion. During the same period in the prior year, the firm earned $2.34 EPS. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be issued a $0.545 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a yield of 3.7%. Nutrien's payout ratio is currently 78.14%.

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.