First Manhattan CO. LLC. Has $11.34 Million Stock Holdings in Nutrien Ltd. $NTR

First Manhattan CO. LLC. trimmed its position in shares of Nutrien Ltd. (NYSE:NTR) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 225,931 shares of the company’s stock after selling 12,639 shares during the quarter. First Manhattan CO. LLC.’s holdings in Nutrien were worth $11,336,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Nutrien by 184.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,243 shares of the company’s stock worth $608,000 after acquiring an additional 7,934 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Nutrien by 27.6% during the first quarter. Farther Finance Advisors LLC now owns 4,627 shares of the company’s stock worth $229,000 after acquiring an additional 1,002 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Nutrien during the first quarter worth about $517,000. Bessemer Group Inc. raised its position in shares of Nutrien by 163.7% during the first quarter. Bessemer Group Inc. now owns 1,690 shares of the company’s stock worth $84,000 after acquiring an additional 1,049 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company’s stock worth $52,000 after acquiring an additional 1,022 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Trading Down 1.8%

Shares of NTR stock opened at $57.73 on Tuesday. The company has a market cap of $28.06 billion, a P/E ratio of 20.69, a PEG ratio of 0.97 and a beta of 0.77. The stock has a 50 day simple moving average of $58.78 and a two-hundred day simple moving average of $56.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. The business had revenue of $10.30 billion during the quarter, compared to the consensus estimate of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. Research analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien’s dividend payout ratio (DPR) is 78.14%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NTR shares. The Goldman Sachs Group raised their price objective on Nutrien from $53.00 to $59.00 and gave the stock a “sell” rating in a research report on Friday, May 9th. Morgan Stanley raised their price objective on Nutrien from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Raymond James Financial downgraded Nutrien from an “outperform” rating to a “market perform” rating and set a $68.00 price objective for the company. in a research report on Tuesday, June 17th. TD Securities raised their price objective on Nutrien from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Scotiabank lowered their target price on Nutrien from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nutrien currently has a consensus rating of “Moderate Buy” and an average price target of $62.65.

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.