Gateway Investment Advisers LLC Decreases Stock Position in Nutrien Ltd. (NYSE:NTR)

Gateway Investment Advisers LLC lowered its stake in Nutrien Ltd. (NYSE:NTR) by 81.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,559 shares of the company’s stock after selling 36,406 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Nutrien were worth $436,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in shares of Nutrien in the 4th quarter worth about $3,433,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Nutrien in the 4th quarter worth about $230,000. Bleakley Financial Group LLC grew its holdings in Nutrien by 14.8% during the 4th quarter. Bleakley Financial Group LLC now owns 6,109 shares of the company’s stock valued at $344,000 after purchasing an additional 786 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Nutrien in the 4th quarter worth about $61,000. Finally, Cerity Partners LLC bought a new stake in Nutrien in the fourth quarter worth about $437,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NTR shares. Berenberg Bank upgraded Nutrien from a “hold” rating to a “buy” rating and increased their price target for the stock from $60.00 to $66.00 in a report on Monday, April 29th. HSBC downgraded shares of Nutrien from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. UBS Group dropped their target price on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. TD Securities reduced their price target on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, BMO Capital Markets dropped their price objective on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.89.

Nutrien Stock Performance

Shares of Nutrien stock traded down $0.09 on Friday, reaching $45.94. 2,470,954 shares of the stock were exchanged, compared to its average volume of 2,090,269. The business has a 50 day moving average price of $50.96 and a two-hundred day moving average price of $52.70. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.56 and a beta of 0.83. Nutrien Ltd. has a twelve month low of $44.90 and a twelve month high of $69.09. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.19 by $0.15. The business had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 EPS. Analysts anticipate that Nutrien Ltd. will post 3.78 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, September 27th. Nutrien’s dividend payout ratio is currently 126.32%.

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.