Shell Asset Management Co. Trims Holdings in Nutrien Ltd. (NYSE:NTR)

Shell Asset Management Co. cut its position in shares of Nutrien Ltd. (NYSE:NTR) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,344 shares of the company’s stock after selling 352 shares during the quarter. Shell Asset Management Co.’s holdings in Nutrien were worth $1,536,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in Nutrien in the fourth quarter worth $27,000. HHM Wealth Advisors LLC increased its position in Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after buying an additional 480 shares during the period. Assetmark Inc. increased its position in Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after buying an additional 690 shares during the period. Asset Planning Inc acquired a new stake in Nutrien in the fourth quarter worth $35,000. Finally, Exchange Traded Concepts LLC increased its position in Nutrien by 96.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after buying an additional 416 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NTR shares. Barclays raised their price target on Nutrien from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday. BNP Paribas raised Nutrien to a “strong-buy” rating in a report on Wednesday, April 9th. TD Securities lifted their target price on Nutrien from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Bank of America lifted their target price on Nutrien from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Berenberg Bank lifted their target price on Nutrien from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.44.

Nutrien Trading Up 0.8%

NYSE:NTR opened at $57.92 on Friday. 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 $28.28 billion, a price-to-earnings ratio of 42.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $52.62 and a 200 day simple moving average of $50.29.

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

Nutrien Announces Dividend

The firm also recently disclosed 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 3.76%. Nutrien’s payout ratio is presently 203.74%.

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.