Bank of New York Mellon Corp Buys 42,810 Shares of Nutrien Ltd. (NYSE:NTR)

Bank of New York Mellon Corp grew its stake in shares of Nutrien Ltd. (NYSE:NTR) by 9.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 499,678 shares of the company’s stock after buying an additional 42,810 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Nutrien worth $24,819,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC lifted its holdings in Nutrien by 6.4% in the fourth quarter. HighTower Advisors LLC now owns 17,452 shares of the company’s stock valued at $781,000 after buying an additional 1,056 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Nutrien in the 4th quarter worth about $250,000. EverSource Wealth Advisors LLC increased its stake in Nutrien by 23.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,804 shares of the company’s stock valued at $81,000 after buying an additional 348 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Nutrien by 26.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 134,758 shares of the company’s stock valued at $6,030,000 after buying an additional 28,315 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Nutrien by 22.1% during the 4th quarter. Corient Private Wealth LLC now owns 33,254 shares of the company’s stock valued at $1,489,000 after acquiring an additional 6,027 shares during the period. Institutional investors own 63.10% of the company’s stock.

Nutrien Trading Down 2.3%

NYSE:NTR opened at $58.48 on Thursday. Nutrien Ltd. has a one year low of $43.70 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.59. The company’s 50-day simple moving average is $59.61 and its 200 day simple moving average is $54.15. The firm has a market capitalization of $28.48 billion, a P/E ratio of 54.66, a PEG ratio of 1.12 and a beta of 0.80.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.24). Nutrien had a return on equity of 6.08% and a net margin of 2.05%. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the previous year, the firm earned $0.46 EPS. The company’s revenue was down 5.4% on a year-over-year basis. As a group, analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be issued a $0.545 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.18 annualized dividend and a yield of 3.73%. Nutrien’s dividend payout ratio (DPR) is presently 203.74%.

Analyst Upgrades and Downgrades

NTR has been the subject of several analyst reports. TD Securities raised their price objective on shares of Nutrien from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, May 12th. The Goldman Sachs Group raised their price objective on shares of Nutrien from $53.00 to $59.00 and gave the company a “sell” rating in a research report on Friday, May 9th. Barclays raised their price objective on shares of Nutrien from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Raymond James Financial cut shares of Nutrien from an “outperform” rating to a “market perform” rating and set a $68.00 target price on the stock. in a research report on Tuesday, June 17th. Finally, Morgan Stanley boosted their price objective on shares of Nutrien from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nutrien presently has a consensus rating of “Hold” and an average target price of $62.61.

About Nutrien

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.