Wellington Management Group LLP Grows Stake in Nutrien Ltd. (NYSE:NTR)

Wellington Management Group LLP lifted its stake in shares of Nutrien Ltd. (NYSE:NTR) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,519,340 shares of the company’s stock after purchasing an additional 122,453 shares during the period. Wellington Management Group LLP owned 0.31% of Nutrien worth $67,949,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NTR. Fairway Wealth LLC purchased a new stake in Nutrien in the fourth quarter worth $27,000. HHM Wealth Advisors LLC increased its holdings in Nutrien by 331.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after acquiring an additional 480 shares during the last quarter. Assetmark Inc. raised its stake in Nutrien by 1,437.5% in 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 purchased a new stake in Nutrien during the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC boosted its position in Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares during the period. Institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NTR. Wells Fargo & Company boosted their price target on shares of Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Oppenheimer started coverage on Nutrien in a research report on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Nutrien in a report on Monday, February 24th. CIBC boosted their price objective on Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a research note on Tuesday, February 25th. Finally, Piper Sandler raised their target price on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Nutrien presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Nutrien Price Performance

NTR stock opened at $47.44 on Friday. The firm has a 50 day simple moving average of $51.30 and a two-hundred day simple moving average of $49.08. The stock has a market cap of $23.19 billion, a PE ratio of 34.63, a P/E/G ratio of 1.19 and a beta of 0.77. Nutrien Ltd. has a one year low of $43.70 and a one year high of $60.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

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

Nutrien Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a yield of 4.60%. Nutrien’s payout ratio is 159.12%.

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.