NewEdge Wealth LLC Lowers Position in BHP Group Limited (NYSE:BHP)

NewEdge Wealth LLC cut its stake in BHP Group Limited (NYSE:BHP) by 40.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,433 shares of the mining company’s stock after selling 31,501 shares during the quarter. NewEdge Wealth LLC’s holdings in BHP Group were worth $2,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of BHP Group by 11.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,839 shares of the mining company’s stock valued at $673,000 after acquiring an additional 1,087 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of BHP Group by 76.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,867 shares of the mining company’s stock valued at $2,104,000 after acquiring an additional 14,700 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of BHP Group by 53.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the mining company’s stock valued at $127,000 after acquiring an additional 700 shares during the last quarter. Aspen Wealth Strategies LLC increased its position in shares of BHP Group by 8.0% during the third quarter. Aspen Wealth Strategies LLC now owns 6,021 shares of the mining company’s stock valued at $374,000 after acquiring an additional 448 shares during the last quarter. Finally, Stephens Inc. AR increased its position 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 last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

BHP Group Stock Down 1.9 %

NYSE:BHP opened at $48.43 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. The business has a fifty day simple moving average of $49.80 and a two-hundred day simple moving average of $53.03. BHP Group Limited has a 1 year low of $48.06 and a 1 year high of $63.21.

BHP Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 7th will be given a $1.00 dividend. This represents a yield of 4.8%. The ex-dividend date is Friday, March 7th.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group decreased their price target on BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

About BHP Group

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.