Parkside Investments LLC Acquires 5,000 Shares of Nutrien Ltd. (NYSE:NTR)

Posted by Danessa Lincoln on Mar 19th, 2023

Parkside Investments LLC lifted its holdings in Nutrien Ltd. (NYSE:NTR – Get Rating) by 43.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,500 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Parkside Investments LLC’s holdings in Nutrien were worth $1,205,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC increased its stake in shares of Nutrien by 4.7% in the second quarter. FMR LLC now owns 26,564,768 shares of the company’s stock worth $2,115,774,000 after purchasing an additional 1,194,557 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Nutrien by 43.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 20,173,789 shares of the company’s stock valued at $1,682,092,000 after acquiring an additional 6,080,975 shares during the period. Vanguard Group Inc. increased its stake in Nutrien by 0.7% during the third quarter. Vanguard Group Inc. now owns 18,309,215 shares of the company’s stock valued at $1,526,621,000 after acquiring an additional 129,212 shares during the period. Mackenzie Financial Corp increased its stake in Nutrien by 0.3% during the third quarter. Mackenzie Financial Corp now owns 10,686,234 shares of the company’s stock valued at $890,251,000 after acquiring an additional 36,700 shares during the period. Finally, Dodge & Cox increased its stake in Nutrien by 1.2% during the second quarter. Dodge & Cox now owns 10,026,159 shares of the company’s stock valued at $798,985,000 after acquiring an additional 120,689 shares during the period. 64.52% of the stock is currently owned by institutional investors.

Nutrien Stock Up 0.0 %

Shares of NTR opened at $72.71 on Friday. The company has a market capitalization of $36.30 billion, a P/E ratio of 5.16, a PEG ratio of 0.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 0.61. Nutrien Ltd. has a one year low of $68.82 and a one year high of $117.25. The business’s 50 day simple moving average is $78.13 and its 200-day simple moving average is $80.04.

Nutrien (NYSE:NTR – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.61). Nutrien had a return on equity of 27.65% and a net margin of 20.22%. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the company posted $2.47 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Nutrien Ltd. will post 9.43 EPS for the current fiscal year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.53 per share. This is an increase from Nutrien’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.12 annualized dividend and a yield of 2.92%. Nutrien’s dividend payout ratio is currently 13.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTR. Piper Sandler lowered Nutrien from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $115.00 to $93.00 in a research note on Tuesday, November 29th. Morgan Stanley lowered their price target on Nutrien from $100.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 11th. JPMorgan Chase & Co. set a $92.00 price target on Nutrien in a research note on Friday, February 17th. TD Securities decreased their price objective on Nutrien from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, February 17th. Finally, The Goldman Sachs Group set a $120.00 price objective on Nutrien in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Nutrien currently has a consensus rating of “Hold” and an average target price of $94.18.

About Nutrien

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Nutrien Ltd. is a crop nutrient company, which engages in the production and distribution of products for agricultural, industrial, and feed customer. It operates through the following segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seed, and merchandise.