Rhumbline Advisers Buys 247 Shares of Nutrien Ltd. (NYSE:NTR)

Rhumbline Advisers boosted its stake in shares of Nutrien Ltd. (NYSE:NTR) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,398 shares of the company’s stock after acquiring an additional 247 shares during the period. Rhumbline Advisers’ holdings in Nutrien were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new position in Nutrien in the fourth quarter valued at about $35,000. V Square Quantitative Management LLC raised its position in shares of Nutrien by 28.5% in the 4th quarter. V Square Quantitative Management LLC now owns 10,115 shares of the company’s stock valued at $453,000 after buying an additional 2,243 shares in the last quarter. Grace & White Inc. NY lifted its holdings in shares of Nutrien by 9.5% during the 4th quarter. Grace & White Inc. NY now owns 109,200 shares of the company’s stock worth $4,887,000 after acquiring an additional 9,500 shares during the period. Van ECK Associates Corp boosted its position in shares of Nutrien by 5.7% during the 4th quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company’s stock worth $66,264,000 after acquiring an additional 80,382 shares in the last quarter. Finally, Four Tree Island Advisory LLC bought a new position in Nutrien in the fourth quarter valued at approximately $520,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Scotiabank raised their target price on Nutrien from $60.00 to $62.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Barclays lifted their target price on Nutrien from $56.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. TD Securities dropped their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Piper Sandler lifted their price target on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Mizuho increased their price objective on shares of Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.13.

Nutrien Price Performance

Shares of NTR opened at $51.03 on Monday. The business has a 50-day moving average of $50.71 and a 200-day moving average of $48.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The company has a market capitalization of $24.96 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. Nutrien Ltd. has a 1 year low of $43.70 and a 1 year high of $60.87.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. As a group, equities research analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a yield of 4.27%. Nutrien’s payout ratio is currently 159.12%.

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.