Timelo Investment Management Inc. Sells 15,000 Shares of Nutrien Ltd. (NYSE:NTR)

Timelo Investment Management Inc. trimmed its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,000 shares of the company's stock after selling 15,000 shares during the period. Nutrien comprises 2.0% of Timelo Investment Management Inc.'s holdings, making the stock its 6th largest position. Timelo Investment Management Inc.'s holdings in Nutrien were worth $2,819,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Uncommon Cents Investing LLC grew its position in shares of Nutrien by 2.1% during the 4th quarter. Uncommon Cents Investing LLC now owns 11,550 shares of the company's stock valued at $517,000 after purchasing an additional 235 shares in the last quarter. Rhumbline Advisers grew its position in Nutrien by 3.5% during the fourth quarter. Rhumbline Advisers now owns 7,398 shares of the company's stock valued at $331,000 after acquiring an additional 247 shares during the last quarter. FFT Wealth Management LLC grew its stake in shares of Nutrien by 0.9% during the fourth quarter. FFT Wealth Management LLC now owns 29,732 shares of the company's stock valued at $1,330,000 after buying an additional 277 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Nutrien by 23.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,804 shares of the company's stock worth $81,000 after purchasing an additional 348 shares during the period. Finally, PFG Investments LLC grew its holdings in Nutrien by 2.0% in the 4th quarter. PFG Investments LLC now owns 20,097 shares of the company's stock worth $899,000 after acquiring an additional 386 shares during the last quarter. Institutional investors own 63.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTR. CIBC increased their target price on Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a research report on Tuesday, February 25th. Mizuho lifted their price target on shares of Nutrien from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Piper Sandler increased their target price on Nutrien from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Wells Fargo & Company upped their price objective on Nutrien from $53.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised Nutrien from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $40.00 to $50.00 in a research report on Monday, January 13th. Two 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.27.

Nutrien Stock Up 1.1 %

Shares of NTR stock traded up $0.58 on Thursday, hitting $53.66. The stock had a trading volume of 2,817,122 shares, compared to its average volume of 2,090,261. The business has a 50 day moving average price of $51.02 and a 200 day moving average price of $49.33. Nutrien Ltd. has a one year low of $43.70 and a one year high of $60.87. The company has a market cap of $26.23 billion, a PE ratio of 39.17, a P/E/G ratio of 1.19 and a beta of 0.77. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR - Get Free Report) last released 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 firm 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%. Research analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Monday, March 31st. Nutrien's dividend payout ratio (DPR) 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.