Gabelli Funds LLC Purchases 13,000 Shares of Nutrien Ltd. (NYSE:NTR)

Gabelli Funds LLC increased its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 33.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,090 shares of the company's stock after buying an additional 13,000 shares during the period. Gabelli Funds LLC's holdings in Nutrien were worth $2,331,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in Nutrien in the fourth quarter valued at approximately $27,000. HHM Wealth Advisors LLC raised its holdings 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 in the last quarter. Assetmark Inc. raised its stake in shares of Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company's stock worth $33,000 after buying an additional 690 shares in the last quarter. Asset Planning Inc acquired a new stake in Nutrien in the 4th quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC lifted its stake in Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company's stock valued at $38,000 after purchasing an additional 416 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Stock Performance

Shares of Nutrien stock traded down $0.37 on Wednesday, reaching $53.10. The stock had a trading volume of 2,032,170 shares, compared to its average volume of 2,084,813. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The business's 50-day moving average price is $50.97 and its two-hundred day moving average price is $49.30. The stock has a market cap of $25.96 billion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR - Get Free Report) last issued 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). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. On average, sell-side analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Monday, March 31st. Nutrien's dividend payout ratio (DPR) is presently 159.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NTR shares. Scotiabank upped 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. CIBC lifted their target price on shares of Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a research report on Tuesday, February 25th. UBS Group cut their price target on shares of Nutrien from $54.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Piper Sandler lifted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Finally, Oppenheimer reduced their target price on Nutrien from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nutrien has a consensus rating of "Moderate Buy" and an average target price of $59.27.

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.