Norges Bank Buys Shares of 4,293,725 Nutrien Ltd. (NYSE:NTR)


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Norges Bank bought a new stake in Nutrien Ltd. (NYSE:NTR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,293,725 shares of the company’s stock, valued at approximately $206,558,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC bought a new position in Nutrien in the fourth quarter valued at about $30,000. CWM LLC grew its position in Nutrien by 95.4% in the fourth quarter. CWM LLC now owns 801 shares of the company’s stock valued at $39,000 after acquiring an additional 391 shares during the last quarter. IMA Wealth Inc. bought a new position in Nutrien in the fourth quarter valued at about $42,000. International Assets Investment Management LLC bought a new stake in shares of Nutrien during the fourth quarter worth about $60,000. Finally, Tompkins Financial Corp bought a new stake in shares of Nutrien during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 61.86% of the company’s stock.

Several research firms have recently weighed in on NTR. Atlantic Securities cut Nutrien from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 12th. Raymond James set a $65.00 price target on Nutrien and gave the stock a “strong-buy” rating in a report on Friday, February 19th. Morgan Stanley lifted their price objective on Nutrien from $50.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Monday, February 8th. HSBC reaffirmed a “hold” rating on shares of Nutrien in a research note on Monday, March 1st. Finally, TD Securities reissued a “buy” rating and issued a $66.00 price target on shares of Nutrien in a research note on Thursday, February 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $53.82.

Shares of NTR opened at $55.61 on Thursday. The stock’s 50-day simple moving average is $55.88 and its 200 day simple moving average is $48.81. The stock has a market capitalization of $31.69 billion, a price-to-earnings ratio of 327.12, a price-to-earnings-growth ratio of 3.01 and a beta of 0.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 1.39. Nutrien Ltd. has a 52-week low of $29.70 and a 52-week high of $59.76.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, February 17th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Nutrien had a return on equity of 4.19% and a net margin of 0.47%. On average, research analysts forecast that Nutrien Ltd. will post 1.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.46 per share. This is a boost from Nutrien’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, March 30th. This represents a $1.84 dividend on an annualized basis and a yield of 3.31%. Nutrien’s dividend payout ratio is 82.95%.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs, services, and solutions. The company offers potash, nitrogen, phosphate, and sulfate products; and financial solutions. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through approximately 2,000 retail locations in the United States, Canada, South America, and Australia.

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Institutional Ownership by Quarter for Nutrien (NYSE:NTR)

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