Envestnet Asset Management Inc. Lowers Holdings in Nutrien Ltd. (NYSE:NTR)

Envestnet Asset Management Inc. trimmed its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,263 shares of the company's stock after selling 13,423 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Nutrien were worth $7,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Nutrien by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,778,500 shares of the company's stock worth $885,009,000 after purchasing an additional 325,210 shares during the last quarter. Silchester International Investors LLP lifted its stake in Nutrien by 9.5% during the fourth quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company's stock worth $523,268,000 after purchasing an additional 1,009,895 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Nutrien by 0.8% during the fourth quarter. First Eagle Investment Management LLC now owns 9,529,311 shares of the company's stock worth $426,436,000 after purchasing an additional 77,174 shares during the last quarter. ARGA Investment Management LP lifted its stake in Nutrien by 25.7% during the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company's stock worth $270,396,000 after purchasing an additional 1,236,671 shares during the last quarter. Finally, TD Asset Management Inc. lifted its stake in Nutrien by 7.4% during the fourth quarter. TD Asset Management Inc. now owns 5,615,681 shares of the company's stock worth $251,152,000 after purchasing an additional 385,616 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Stock Up 0.9 %

Nutrien stock traded up $0.48 on Thursday, hitting $53.56. 623,996 shares of the stock traded hands, compared to its average volume of 2,081,781. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The firm has a market cap of $26.18 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. The business's fifty day simple moving average is $51.02 and its 200 day simple moving average is $49.33. Nutrien Ltd. has a 1 year low of $43.70 and a 1 year high of $60.87.

Nutrien (NYSE:NTR - Get Free Report) last posted 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 company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. As a group, sell-side analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, March 31st. Nutrien's dividend payout ratio is presently 159.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NTR shares. Scotiabank boosted their target price on Nutrien from $60.00 to $62.00 and gave the company a "sector outperform" rating in a research note on Monday, February 24th. BNP Paribas raised Nutrien to a "strong-buy" rating in a research note on Wednesday, April 9th. CIBC boosted their target price on Nutrien from $64.00 to $66.00 and gave the company an "outperformer" rating in a research note on Tuesday, February 25th. Piper Sandler boosted their target price on Nutrien from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Finally, UBS Group lowered their target price on Nutrien from $54.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.27.

Nutrien Company 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.