PNC Financial Services Group Inc. Increases Stock Holdings in Nutrien Ltd. (NYSE:NTR)

PNC Financial Services Group Inc. lifted its position in Nutrien Ltd. (NYSE:NTR) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,332 shares of the company’s stock after purchasing an additional 432 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nutrien were worth $807,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NTR. Exchange Traded Concepts LLC lifted its position in Nutrien by 904.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 753 shares of the company’s stock valued at $42,000 after buying an additional 678 shares during the last quarter. Evolution Advisers Inc. acquired a new position in Nutrien in the fourth quarter valued at about $49,000. CVA Family Office LLC acquired a new position in Nutrien in the fourth quarter valued at about $57,000. Parallel Advisors LLC lifted its position in Nutrien by 41.0% in the fourth quarter. Parallel Advisors LLC now owns 1,049 shares of the company’s stock valued at $59,000 after buying an additional 305 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Nutrien in the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

Shares of Nutrien stock opened at $52.66 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $26.05 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.66 and a beta of 0.87. The firm’s 50 day moving average is $54.92 and its two-hundred day moving average is $53.79. Nutrien Ltd. has a 52 week low of $47.90 and a 52 week high of $69.12.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.38 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. Research analysts forecast that Nutrien Ltd. will post 3.9 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.10%. Nutrien’s dividend payout ratio (DPR) is presently 126.32%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HSBC decreased their target price on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, March 8th. Wells Fargo & Company increased their price target on shares of Nutrien from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Mizuho increased their price target on shares of Nutrien from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Scotiabank reduced their price target on shares of Nutrien from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Finally, Jefferies Financial Group began coverage on shares of Nutrien in a research report on Tuesday, March 26th. They set a “buy” rating and a $62.00 price target on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Nutrien has an average rating of “Hold” and a consensus target price of $66.28.

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.