Korea Investment CORP Reduces Position in Nutrien Ltd. (NYSE:NTR)

Korea Investment CORP reduced its holdings in Nutrien Ltd. (NYSE:NTR) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 373,506 shares of the company’s stock after selling 40,214 shares during the period. Korea Investment CORP owned approximately 0.08% of Nutrien worth $16,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTR. ARGA Investment Management LP raised its holdings in Nutrien by 25.7% in the 4th quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company’s stock valued at $270,396,000 after acquiring an additional 1,236,671 shares during the last quarter. Silchester International Investors LLP increased its holdings in shares of Nutrien by 9.5% in the fourth quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock valued at $523,268,000 after purchasing an additional 1,009,895 shares during the last quarter. Pacific Heights Asset Management LLC lifted its position in Nutrien by 462.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 815,000 shares of the company’s stock worth $36,471,000 after buying an additional 670,000 shares in the last quarter. Toronto Dominion Bank boosted its stake in Nutrien by 11.9% during the third quarter. Toronto Dominion Bank now owns 4,220,354 shares of the company’s stock worth $202,830,000 after buying an additional 447,413 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in Nutrien by 7.4% in the 4th quarter. TD Asset Management Inc. now owns 5,615,681 shares of the company’s stock valued at $251,152,000 after buying an additional 385,616 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTR has been the topic of several analyst reports. CIBC lifted their price target on Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a report on Tuesday, February 25th. Mizuho lifted their target price on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler increased their price target on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. The Goldman Sachs Group began coverage on shares of Nutrien in a research report on Thursday, March 13th. They set a “sell” rating and a $53.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nutrien presently has an average rating of “Hold” and an average target price of $60.00.

Nutrien Price Performance

NTR opened at $50.13 on Friday. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.19 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $51.59 and its 200 day moving average price is $48.99. Nutrien Ltd. has a 12-month low of $43.70 and a 12-month high of $60.87.

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

Nutrien Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien’s dividend payout ratio is currently 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.