4,671 Shares in Nutrien Ltd. (NYSE:NTR) Bought by Modern Wealth Management LLC

Modern Wealth Management LLC acquired a new position in Nutrien Ltd. (NYSE:NTR) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,671 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covea Finance lifted its stake in shares of Nutrien by 21.9% in the fourth quarter. Covea Finance now owns 55,600 shares of the company’s stock worth $2,485,000 after acquiring an additional 10,000 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Nutrien by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,396,887 shares of the company’s stock valued at $67,200,000 after purchasing an additional 151,596 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nutrien by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company’s stock valued at $84,367,000 after purchasing an additional 144,025 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Nutrien by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company’s stock worth $66,264,000 after buying an additional 80,382 shares in the last quarter. Finally, Secured Retirement Advisors LLC acquired a new stake in shares of Nutrien during the fourth quarter worth approximately $654,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on NTR shares. Wells Fargo & Company increased their price objective on shares of Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. UBS Group increased their price target on shares of Nutrien from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Piper Sandler boosted their price objective on Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nutrien currently has a consensus rating of “Hold” and an average price target of $60.00.

Nutrien Stock Down 1.5 %

NTR stock opened at $50.13 on Friday. The stock has a market cap of $24.52 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. The firm’s 50-day simple moving average is $51.59 and its 200 day simple moving average is $48.97. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.87. 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) last posted its earnings results on Wednesday, February 19th. The company reported $0.28 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 the consensus estimate 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 predict that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 4.35%. The ex-dividend date is Monday, March 31st. Nutrien’s payout ratio is currently 159.12%.

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.