Greenwood Capital Associates LLC Cuts Stock Holdings in Nutrien Ltd. $NTR

Greenwood Capital Associates LLC reduced its position in Nutrien Ltd. (NYSE:NTR) by 46.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,284 shares of the company’s stock after selling 10,596 shares during the period. Greenwood Capital Associates LLC’s holdings in Nutrien were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. grew its position in Nutrien by 310.7% during the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Evolution Wealth Management Inc. acquired a new position in shares of Nutrien in the first quarter worth about $32,000. Sfam LLC acquired a new position in shares of Nutrien in the fourth quarter worth about $37,000. Eastern Bank raised its position in shares of Nutrien by 133.0% in the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after acquiring an additional 399 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Nutrien by 97.2% during the 4th quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after acquiring an additional 347 shares in the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $64.58 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The business’s 50 day moving average price is $67.57 and its 200-day moving average price is $69.72. The firm has a market capitalization of $30.95 billion, a PE ratio of 13.15, a P/E/G ratio of 0.64 and a beta of 0.62. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the prior year, the company earned $0.11 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts expect that Nutrien Ltd. will post 5.19 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 17th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Nutrien’s dividend payout ratio is presently 44.81%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NTR shares. Oppenheimer lifted their price target on Nutrien from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce lowered their price target on Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 30th. Jefferies Financial Group raised Nutrien from a “hold” rating to a “buy” rating and raised their price objective for the company from $74.00 to $96.00 in a report on Thursday, March 12th. Morgan Stanley cut their price objective on Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings raised Nutrien from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and a consensus target price of $80.94.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.