Wambolt & Associates LLC Decreases Holdings in Nutrien Ltd. (NYSE:NTR)

Wambolt & Associates LLC reduced its position in Nutrien Ltd. (NYSE:NTR) by 51.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,376 shares of the company’s stock after selling 6,702 shares during the period. Wambolt & Associates LLC’s holdings in Nutrien were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC boosted its position in shares of Nutrien by 10.5% in the 3rd quarter. LPL Financial LLC now owns 121,573 shares of the company’s stock worth $7,508,000 after buying an additional 11,593 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Nutrien during the 3rd quarter worth approximately $852,000. Glenmede Trust Co. NA raised its position in shares of Nutrien by 33.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,614 shares of the company’s stock worth $717,000 after purchasing an additional 2,923 shares during the last quarter. Legal & General Group Plc lifted its stake in Nutrien by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 2,641,921 shares of the company’s stock valued at $163,901,000 after buying an additional 89,267 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Nutrien by 30.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 23,409 shares of the company’s stock valued at $1,446,000 after buying an additional 5,451 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Stock Down 1.9 %

Nutrien stock traded down $0.97 during trading on Friday, reaching $49.93. 2,027,745 shares of the company’s stock were exchanged, compared to its average volume of 1,579,195. Nutrien Ltd. has a 52-week low of $47.90 and a 52-week high of $69.12. The firm has a market cap of $24.70 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.15. The company’s 50-day moving average is $54.70 and its two-hundred day moving average is $53.58.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.38 billion. On average, analysts predict that Nutrien Ltd. will post 3.84 earnings per share for the current year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Friday, June 28th. Nutrien’s payout ratio is 126.32%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NTR shares. Mizuho upped their price objective on Nutrien from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. HSBC decreased their price target on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, March 8th. Piper Sandler cut their price objective on shares of Nutrien from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, June 11th. Jefferies Financial Group started coverage on shares of Nutrien in a research report on Tuesday, March 26th. They set a “buy” rating and a $62.00 target price on the stock. Finally, Berenberg Bank upgraded Nutrien from a “hold” rating to a “buy” rating and boosted their price target for the company from $60.00 to $66.00 in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.28.

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.