Mirae Asset Global Investments Co. Ltd. Reduces Position in Nutrien Ltd. (NYSE:NTR)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Nutrien Ltd. (NYSE:NTR) by 49.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,704 shares of the company’s stock after selling 12,524 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Nutrien were worth $716,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. QV Investors Inc. lifted its position in Nutrien by 30.5% during the fourth quarter. QV Investors Inc. now owns 483,671 shares of the company’s stock valued at $27,382,000 after purchasing an additional 113,016 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in Nutrien during the fourth quarter valued at $230,000. ANTIPODES PARTNERS Ltd lifted its position in Nutrien by 18,312.9% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,595,295 shares of the company’s stock valued at $89,862,000 after purchasing an additional 1,586,631 shares during the period. International Assets Investment Management LLC acquired a new position in Nutrien during the fourth quarter valued at $3,433,000. Finally, Addenda Capital Inc. lifted its position in Nutrien by 0.7% during the fourth quarter. Addenda Capital Inc. now owns 546,783 shares of the company’s stock valued at $30,800,000 after purchasing an additional 3,876 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NTR. Stifel Nicolaus boosted their target price on shares of Nutrien from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, January 19th. The Goldman Sachs Group decreased their target price on shares of Nutrien from $88.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Piper Sandler downgraded shares of Nutrien from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $68.00 to $54.00 in a research report on Thursday, February 29th. Jefferies Financial Group began coverage on shares of Nutrien in a research report on Tuesday, March 26th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of Nutrien from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $58.00 to $48.00 in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Nutrien has an average rating of “Hold” and a consensus target price of $67.95.

Nutrien Stock Up 0.0 %

Shares of NYSE NTR opened at $52.28 on Thursday. Nutrien Ltd. has a 12-month low of $47.90 and a 12-month high of $71.25. The stock has a market cap of $25.86 billion, a PE ratio of 20.66, a P/E/G ratio of 1.95 and a beta of 0.89. The company has a current ratio of 1.17, a quick ratio of 0.65 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $53.17 and a 200 day moving average of $54.16.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the prior year, the company posted $2.02 EPS. The firm’s revenue was down 24.8% on a year-over-year basis. As a group, sell-side analysts predict that Nutrien Ltd. will post 3.82 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.13%. The ex-dividend date was Wednesday, March 27th. This is a boost from Nutrien’s previous quarterly dividend of $0.53. Nutrien’s dividend payout ratio is currently 85.38%.

Nutrien Profile

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.