Assetmark Inc. Acquires 690 Shares of Nutrien Ltd. (NYSE:NTR)

Assetmark Inc. grew its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 1,437.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 738 shares of the company’s stock after purchasing an additional 690 shares during the quarter. Assetmark Inc.’s holdings in Nutrien were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTR. HHM Wealth Advisors LLC boosted its position in Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the period. Asset Planning Inc bought a new position in shares of Nutrien in the fourth quarter valued at approximately $35,000. Exchange Traded Concepts LLC boosted its position in shares of Nutrien by 96.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after acquiring an additional 416 shares during the period. Principal Securities Inc. boosted its position in shares of Nutrien by 138.1% in the fourth quarter. Principal Securities Inc. now owns 931 shares of the company’s stock valued at $42,000 after acquiring an additional 540 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Nutrien in the fourth quarter valued at approximately $67,000. Institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Nutrien from $56.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho raised their target price 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. UBS Group raised their target price on shares of Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Scotiabank lifted their price target on shares of Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Finally, CIBC lifted their price target on shares of Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.13.

Nutrien Price Performance

NTR opened at $50.82 on Friday. Nutrien Ltd. has a 1 year low of $43.70 and a 1 year high of $60.87. The stock has a 50-day moving average price of $51.26 and a 200-day moving average price of $48.68. 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 firm has a market cap of $24.86 billion, a PE ratio of 37.09, a P/E/G ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Sell-side analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, March 31st. Nutrien’s payout ratio is currently 159.12%.

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.