Pictet Asset Management Holding SA Buys 47,387 Shares of Nutrien Ltd. (NYSE:NTR)

Pictet Asset Management Holding SA grew its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 263,893 shares of the company's stock after purchasing an additional 47,387 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of Nutrien worth $11,802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Nutrien in the fourth quarter valued at about $241,958,000. ARGA Investment Management LP increased its stake in Nutrien by 25.7% during the 4th 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 in the last quarter. Silchester International Investors LLP raised its holdings in Nutrien by 9.5% during the 4th quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company's stock worth $523,268,000 after buying an additional 1,009,895 shares during the period. Pacific Heights Asset Management LLC lifted its stake in Nutrien by 462.1% in the fourth quarter. Pacific Heights Asset Management LLC now owns 815,000 shares of the company's stock valued at $36,471,000 after buying an additional 670,000 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Nutrien by 11.9% in the third quarter. Toronto Dominion Bank now owns 4,220,354 shares of the company's stock valued at $202,830,000 after buying an additional 447,413 shares during the period. 63.10% of the stock is owned by institutional investors.

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Nutrien Stock Performance

NTR traded up $0.18 on Monday, reaching $47.58. The company had a trading volume of 3,902,172 shares, compared to its average volume of 2,043,798. The stock has a market cap of $23.26 billion, a P/E ratio of 34.73, a P/E/G ratio of 1.19 and a beta of 0.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.87. The company's fifty day moving average is $51.20 and its 200 day moving average is $49.11.

Nutrien (NYSE:NTR - Get Free Report) last announced 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 firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. As a group, 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. Investors of record on Monday, March 31st will be paid a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.58%. Nutrien's dividend payout ratio (DPR) is presently 159.12%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Nutrien from $53.00 to $56.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. CIBC upped their price objective on Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a research report on Tuesday, February 25th. 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. UBS Group boosted their target price on Nutrien from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Piper Sandler raised their price target on shares of Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.00.

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.