Hardy Reed LLC Makes New Investment in Nutrien Ltd. (NYSE:NTR)

Hardy Reed LLC acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,907 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds have also recently modified their holdings of the company. Lester Murray Antman dba SimplyRich lifted its position in Nutrien by 2.3% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock valued at $461,000 after acquiring an additional 202 shares during the period. FFT Wealth Management LLC lifted its holdings in shares of Nutrien by 0.8% during the second quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock valued at $1,488,000 after purchasing an additional 220 shares during the last quarter. MONECO Advisors LLC boosted its position in shares of Nutrien by 2.4% in the 2nd quarter. MONECO Advisors LLC now owns 9,791 shares of the company’s stock worth $498,000 after purchasing an additional 233 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Nutrien by 6.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock worth $207,000 after buying an additional 263 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Nutrien by 1.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 23,995 shares of the company’s stock worth $1,222,000 after buying an additional 265 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NTR shares. Barclays dropped their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. HSBC downgraded shares of Nutrien from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Wells Fargo & Company cut shares of Nutrien from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. BMO Capital Markets cut their price target on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, TD Securities decreased their price objective on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.33.

Nutrien Trading Down 2.0 %

Shares of NYSE:NTR opened at $45.88 on Wednesday. Nutrien Ltd. has a 52-week low of $44.65 and a 52-week high of $60.87. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 1.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The stock’s 50-day simple moving average is $47.99 and its two-hundred day simple moving average is $49.94.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Analysts expect that Nutrien Ltd. will post 3.56 EPS for the current year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a $0.939 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.19%. Nutrien’s dividend payout ratio is 144.97%.

Nutrien Company Profile

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.