Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 671,989 shares of the company's stock after purchasing an additional 69,266 shares during the period. Nutrien makes up about 2.2% of Scheer Rowlett & Associates Investment Management Ltd.'s investment portfolio, making the stock its 20th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned approximately 0.14% of Nutrien worth $30,030,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NTR. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Nutrien during the third quarter valued at approximately $150,181,000. ARGA Investment Management LP raised its stake in shares of Nutrien by 25.7% during the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company's stock valued at $270,396,000 after purchasing an additional 1,236,671 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Nutrien by 78.8% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company's stock valued at $121,271,000 after purchasing an additional 1,100,000 shares during the period. Silchester International Investors LLP raised its stake in shares of Nutrien by 9.5% during the fourth quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company's stock valued at $523,268,000 after purchasing an additional 1,009,895 shares during the period. Finally, Pacific Heights Asset Management LLC raised its stake in shares of Nutrien by 462.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 815,000 shares of the company's stock valued at $36,471,000 after purchasing an additional 670,000 shares during the period. Hedge funds and other institutional investors own 63.10% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. 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. JPMorgan Chase & Co. upgraded shares of Nutrien from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $40.00 to $50.00 in a research note on Monday, January 13th. Piper Sandler lifted 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. TD Securities dropped their price target on shares of Nutrien from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. Finally, UBS Group lifted their price target on shares of Nutrien from $53.00 to $54.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.13.
Check Out Our Latest Research Report on NTR
Nutrien Stock Performance
Shares of NTR traded down $0.44 during midday trading on Wednesday, hitting $50.75. 1,452,488 shares of the stock traded hands, compared to its average volume of 1,991,078. Nutrien Ltd. has a 1-year low of $43.70 and a 1-year high of $60.87. The firm has a market capitalization of $24.83 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. 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 $50.96 and its two-hundred day moving average price is $48.63.
Nutrien (NYSE:NTR - Get Free Report) last announced 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). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.09 billion. Equities research analysts predict that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.
Nutrien Cuts Dividend
The business also recently disclosed 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. This represents a $2.18 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien's payout ratio is currently 159.12%.
About Nutrien
(
Free Report)
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.
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