K.J. Harrison & Partners Inc Lowers Position in Nutrien Ltd. (NYSE:NTR)

K.J. Harrison & Partners Inc cut its stake in Nutrien Ltd. (NYSE:NTR) by 73.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,471 shares of the company’s stock after selling 40,089 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Nutrien were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NTR. GHP Investment Advisors Inc. purchased a new stake in shares of Nutrien during the third quarter valued at approximately $27,000. Legacy Financial Group LLC purchased a new stake in shares of Nutrien during the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC increased its position in shares of Nutrien by 904.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 753 shares of the company’s stock valued at $42,000 after acquiring an additional 678 shares during the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Nutrien during the fourth quarter valued at approximately $49,000. Finally, CVA Family Office LLC purchased a new stake in shares of Nutrien during the fourth quarter valued at approximately $57,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Trading Up 1.0 %

Shares of NTR traded up $0.50 during trading hours on Friday, hitting $52.55. The company had a trading volume of 1,227,851 shares, compared to its average volume of 1,711,381. The company has a quick ratio of 0.65, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $25.99 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.95 and a beta of 0.89. Nutrien Ltd. has a 52-week low of $47.90 and a 52-week high of $70.07. The stock’s 50 day moving average price is $53.23 and its 200 day moving average price is $54.09.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.35). The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.36 billion. Nutrien had a return on equity of 8.59% and a net margin of 4.33%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.02 earnings per share. On average, research analysts predict that Nutrien Ltd. will post 3.82 EPS for the current year.

Nutrien Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Nutrien’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 4.11%. Nutrien’s dividend payout ratio (DPR) is presently 85.38%.

Analyst Ratings Changes

Several equities analysts have weighed in on NTR shares. HSBC reduced their price objective on Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a report on Friday, March 8th. Berenberg Bank cut their price target on Nutrien from $67.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, February 8th. BMO Capital Markets cut their price target on Nutrien from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Wolfe Research assumed coverage on Nutrien in a research note on Friday, March 1st. They set an “outperform” rating and a $66.00 price objective for the company. Finally, Piper Sandler lowered Nutrien from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $68.00 to $54.00 in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.95.

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.