Allspring Global Investments Holdings LLC Makes New Investment in Nutrien Ltd. (NYSE:NTR)

Allspring Global Investments Holdings LLC acquired a new stake in Nutrien Ltd. (NYSE:NTR) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,081 shares of the company’s stock, valued at approximately $61,000.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Nutrien by 1.9% during the third quarter. Vanguard Group Inc. now owns 18,052,214 shares of the company’s stock valued at $1,114,905,000 after acquiring an additional 332,190 shares during the last quarter. Deutsche Bank AG grew its stake in Nutrien by 1.5% in the 3rd quarter. Deutsche Bank AG now owns 14,708,135 shares of the company’s stock valued at $908,374,000 after purchasing an additional 214,299 shares during the period. Mackenzie Financial Corp increased its position in shares of Nutrien by 2.2% during the 3rd quarter. Mackenzie Financial Corp now owns 13,091,872 shares of the company’s stock valued at $748,638,000 after purchasing an additional 282,531 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of Nutrien by 1.3% during the 3rd quarter. Parnassus Investments LLC now owns 10,057,019 shares of the company’s stock worth $621,121,000 after purchasing an additional 131,418 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Nutrien by 0.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 9,262,659 shares of the company’s stock worth $572,062,000 after buying an additional 48,230 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

NYSE NTR opened at $54.08 on Tuesday. The company’s 50 day simple moving average is $53.29 and its two-hundred day simple moving average is $53.94. The stock has a market capitalization of $26.75 billion, a PE ratio of 21.38, a P/E/G ratio of 1.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 0.65. Nutrien Ltd. has a 1 year low of $47.90 and a 1 year high of $70.07.

Nutrien (NYSE:NTR) last posted 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 the consensus estimate of $5.36 billion. During the same period in the prior year, the business posted $2.02 EPS. Nutrien’s quarterly revenue was down 24.8% on a year-over-year basis. Analysts predict that Nutrien Ltd. will post 3.82 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Nutrien’s previous quarterly dividend of $0.53. Nutrien’s dividend payout ratio (DPR) is 85.38%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NTR. 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 report on Friday, February 23rd. Piper Sandler cut shares of Nutrien from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $68.00 to $54.00 in a report on Thursday, February 29th. Stifel Nicolaus upped their price objective on Nutrien from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 19th. BMO Capital Markets decreased their target price on Nutrien from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. Finally, CIBC dropped their price target on Nutrien from $87.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

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.