Massachusetts Financial Services Co. MA Cuts Holdings in Nutrien Ltd. (NYSE:NTR)

Massachusetts Financial Services Co. MA cut its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,430,207 shares of the company's stock after selling 193,568 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.49% of Nutrien worth $108,752,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NTR. Cerity Partners LLC boosted its position in shares of Nutrien by 114.3% in the third quarter. Cerity Partners LLC now owns 13,649 shares of the company's stock valued at $656,000 after acquiring an additional 7,279 shares during the period. IHT Wealth Management LLC raised its stake in Nutrien by 134.2% in the 3rd quarter. IHT Wealth Management LLC now owns 14,583 shares of the company's stock worth $701,000 after purchasing an additional 8,357 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Nutrien by 12.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 26,914 shares of the company's stock valued at $1,293,000 after purchasing an additional 2,919 shares during the period. Wellington Management Group LLP grew its position in shares of Nutrien by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,396,887 shares of the company's stock worth $67,200,000 after purchasing an additional 151,596 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Nutrien by 1.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 67,816 shares of the company's stock worth $3,257,000 after purchasing an additional 690 shares during the period. Institutional investors and hedge funds own 63.10% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NTR shares. Barclays boosted their target price 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. Oppenheimer began coverage on Nutrien in a research note on Thursday, December 12th. They issued an "outperform" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Nutrien from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $40.00 to $50.00 in a report on Monday, January 13th. Royal Bank of Canada restated an "outperform" rating and issued a $60.00 target price on shares of Nutrien in a research report on Monday, February 24th. Finally, Scotiabank upped their price target on shares of Nutrien from $60.00 to $62.00 and gave the stock a "sector outperform" rating in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Nutrien has an average rating of "Hold" and a consensus price target of $60.00.

Nutrien Stock Down 1.4 %

Shares of Nutrien stock traded down $0.67 during trading on Thursday, reaching $47.74. 1,195,805 shares of the company traded hands, compared to its average volume of 2,056,874. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. Nutrien Ltd. has a 1-year low of $43.70 and a 1-year high of $60.87. The company has a 50 day moving average price of $50.83 and a 200-day moving average price of $49.10. The firm has a market capitalization of $23.34 billion, a PE ratio of 34.77, a P/E/G ratio of 1.19 and a beta of 0.77.

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

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.57%. Nutrien's dividend payout ratio is presently 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.