Pinnacle Associates Ltd. Purchases 3,680 Shares of Nutrien Ltd. (NYSE:NTR)

Pinnacle Associates Ltd. raised its position in shares of Nutrien Ltd. (NYSE:NTRFree Report) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,444 shares of the company’s stock after purchasing an additional 3,680 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Nutrien were worth $1,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NTR. Zions Bancorporation N.A. lifted its position in Nutrien by 55.2% during the first quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock valued at $31,000 after purchasing an additional 107 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Nutrien by 0.9% in the 1st quarter. Centaurus Financial Inc. now owns 14,626 shares of the company’s stock worth $1,521,000 after purchasing an additional 132 shares in the last quarter. Equitable Holdings Inc. lifted its position in shares of Nutrien by 4.2% in the second quarter. Equitable Holdings Inc. now owns 4,583 shares of the company’s stock worth $271,000 after buying an additional 183 shares in the last quarter. SVB Wealth LLC raised its position in shares of Nutrien by 2.3% during the 1st quarter. SVB Wealth LLC now owns 8,265 shares of the company’s stock valued at $610,000 after buying an additional 187 shares in the last quarter. Finally, First Pacific Financial lifted its stake in shares of Nutrien by 1.7% in the 4th quarter. First Pacific Financial now owns 12,399 shares of the company’s stock valued at $699,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Price Performance

Shares of NTR opened at $54.59 on Wednesday. The company has a 50 day moving average of $51.94 and a two-hundred day moving average of $55.00. The company has a quick ratio of 0.65, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Nutrien Ltd. has a twelve month low of $47.90 and a twelve month high of $75.29. The company has a market cap of $27.00 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89.

Nutrien (NYSE:NTRGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter last year, the business posted $2.02 earnings per share. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, analysts predict that Nutrien Ltd. will post 3.95 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.96%. This is a boost from Nutrien’s previous quarterly dividend of $0.53. Nutrien’s dividend payout ratio (DPR) is currently 85.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTR shares. HSBC lowered their target price on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a report on Friday, March 8th. The Goldman Sachs Group decreased their target price on Nutrien from $88.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. BMO Capital Markets lowered their target price on shares of Nutrien from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Piper Sandler downgraded shares of Nutrien from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $68.00 to $54.00 in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut Nutrien from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $58.00 to $48.00 in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.43.

View Our Latest Stock Report on Nutrien

Nutrien Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Nutrien (NYSE:NTR)

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