First Manhattan CO. LLC. Has $10.80 Million Stock Position in Nutrien Ltd. (NYSE:NTR)

First Manhattan CO. LLC. reduced its stake in shares of Nutrien Ltd. (NYSE:NTR) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,570 shares of the company’s stock after selling 14,878 shares during the quarter. First Manhattan CO. LLC.’s holdings in Nutrien were worth $10,800,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Nutrien by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,778,500 shares of the company’s stock valued at $885,009,000 after buying an additional 325,210 shares during the period. Dodge & Cox lifted its position in shares of Nutrien by 0.3% in the 4th quarter. Dodge & Cox now owns 12,523,259 shares of the company’s stock worth $560,416,000 after acquiring an additional 40,800 shares during the period. Silchester International Investors LLP grew its holdings in shares of 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 purchasing an additional 1,009,895 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Nutrien by 0.8% during the 4th quarter. First Eagle Investment Management LLC now owns 9,529,311 shares of the company’s stock worth $426,436,000 after purchasing an additional 77,174 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Nutrien by 11.3% during the fourth quarter. Deutsche Bank AG now owns 7,105,057 shares of the company’s stock valued at $317,951,000 after purchasing an additional 721,935 shares during the period. 63.10% of the stock is owned by institutional investors.

Nutrien Price Performance

NTR opened at $55.59 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The company’s 50 day simple moving average is $51.97 and its 200-day simple moving average is $49.95. Nutrien Ltd. has a one year low of $43.70 and a one year high of $60.87. The stock has a market capitalization of $27.14 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.24). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.18 dividend on an annualized basis and a yield of 3.92%. Nutrien’s payout ratio is presently 203.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTR shares. Wells Fargo & Company lifted their price target on shares of Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of Nutrien in a research report on Monday, February 24th. Berenberg Bank lifted their price objective on Nutrien from $54.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. BNP Paribas raised Nutrien to a “strong-buy” rating in a report on Wednesday, April 9th. Finally, UBS Group boosted their price target on Nutrien from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.93.

About Nutrien

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.