Nutrien Ltd. (NYSE:NTR) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. increased its stake in Nutrien Ltd. (NYSE:NTR) by 11.7% 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 71,817 shares of the company’s stock after acquiring an additional 7,520 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Nutrien were worth $4,047,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new stake in Nutrien in the third quarter valued at approximately $27,000. Legacy Financial Group LLC acquired a new stake in Nutrien in the third quarter valued at $28,000. Exchange Traded Concepts LLC lifted its holdings in Nutrien by 904.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 753 shares of the company’s stock worth $42,000 after buying an additional 678 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Nutrien in the 4th quarter valued at about $57,000. Finally, NBC Securities Inc. acquired a new stake in shares of Nutrien during the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NTR. Berenberg Bank cut their price objective on shares of Nutrien from $67.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, February 8th. TD Securities decreased their target price on Nutrien from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Jefferies Financial Group initiated coverage on Nutrien in a research note on Tuesday, March 26th. They issued a “buy” rating and a $62.00 price objective for the company. Piper Sandler lowered shares of Nutrien from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $68.00 to $54.00 in a research report on Thursday, February 29th. Finally, CIBC decreased their price target on shares of Nutrien from $87.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Nutrien has a consensus rating of “Hold” and a consensus target price of $67.95.

Nutrien Stock Performance

Shares of NTR traded down $0.39 during mid-day trading on Wednesday, reaching $51.88. 428,986 shares of the company’s stock traded hands, compared to its average volume of 1,993,554. The stock has a market capitalization of $25.66 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.89. The business’s 50-day moving average price is $53.10 and its 200-day moving average price is $54.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.65 and a current ratio of 1.17. Nutrien Ltd. has a 12 month low of $47.90 and a 12 month high of $71.25.

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

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.16%. This is a boost from Nutrien’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Wednesday, March 27th. Nutrien’s dividend payout ratio is currently 85.38%.

Nutrien 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.