Envestnet Portfolio Solutions Inc. Purchases New Position in The Mosaic Company (NYSE:MOS)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of The Mosaic Company (NYSE:MOS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 115,233 shares of the basic materials company’s stock, valued at approximately $2,832,000.

Several other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of Mosaic by 49.0% during the 4th quarter. Pacer Advisors Inc. now owns 73,807 shares of the basic materials company’s stock valued at $1,814,000 after buying an additional 24,281 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Mosaic by 44.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,218,410 shares of the basic materials company’s stock worth $86,189,000 after acquiring an additional 986,812 shares during the period. Swedbank AB lifted its holdings in Mosaic by 2.3% during the third quarter. Swedbank AB now owns 1,269,494 shares of the basic materials company’s stock valued at $33,997,000 after purchasing an additional 28,816 shares in the last quarter. OLD National Bancorp IN grew its position in shares of Mosaic by 33.8% in the fourth quarter. OLD National Bancorp IN now owns 291,605 shares of the basic materials company’s stock valued at $7,168,000 after purchasing an additional 73,653 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Mosaic during the third quarter worth about $1,251,000. 77.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOS has been the topic of a number of research reports. The Goldman Sachs Group began coverage on shares of Mosaic in a research note on Thursday, March 13th. They issued a “buy” rating and a $31.00 price target on the stock. Scotiabank raised their target price on Mosaic from $31.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Mosaic from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $29.00 in a research report on Monday, March 3rd. Royal Bank of Canada raised their price objective on Mosaic from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Finally, CIBC began coverage on shares of Mosaic in a research note on Tuesday, December 10th. They set a “neutral” rating and a $55.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.64.

Mosaic Price Performance

Mosaic stock opened at $27.95 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $26.41 and a 200 day moving average price of $26.16. The Mosaic Company has a 12-month low of $22.48 and a 12-month high of $33.44. The stock has a market cap of $8.86 billion, a P/E ratio of 24.74, a PEG ratio of 1.42 and a beta of 1.34.

Mosaic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, March 6th. This is a positive change from Mosaic’s previous quarterly dividend of $0.21. Mosaic’s payout ratio is presently 160.00%.

Mosaic Profile

The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.