62,000 Shares in Nutrien Ltd. (NYSE:NTR) Acquired by Forge First Asset Management Inc.

Forge First Asset Management Inc. acquired a new position in Nutrien Ltd. (NYSE:NTR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 62,000 shares of the company’s stock, valued at approximately $2,774,000. Nutrien comprises 1.0% of Forge First Asset Management Inc.’s portfolio, making the stock its 25th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Nutrien in the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC grew its position in shares of Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares during the period. Assetmark Inc. grew its position in shares of Nutrien by 1,437.5% during the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after acquiring an additional 690 shares during the period. Asset Planning Inc bought a new stake in shares of Nutrien during the 4th quarter valued at $35,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Nutrien by 96.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after acquiring an additional 416 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Stock Up 1.3 %

Shares of NTR stock opened at $51.19 on Wednesday. The company’s fifty day simple moving average is $50.96 and its two-hundred day simple moving average is $48.63. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The stock has a market cap of $25.05 billion, a P/E ratio of 37.37, a PEG ratio of 1.19 and a beta of 0.81. Nutrien Ltd. has a 52 week low of $43.70 and a 52 week high of $60.87.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. Analysts predict that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Monday, March 31st. Nutrien’s dividend payout ratio is 159.12%.

Analyst Upgrades and Downgrades

NTR has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a research report on Monday, February 24th. UBS Group boosted their price objective on shares of Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Barclays lifted their target price on shares of Nutrien from $56.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. CIBC lifted their target price on shares of Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a research note on Tuesday, February 25th. Finally, Oppenheimer started coverage on shares of Nutrien in a research note on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Nutrien has an average rating of “Moderate Buy” and a consensus price target of $60.13.

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.