Mirae Asset Global Investments Co. Ltd. Trims Stake in Nutrien Ltd. (NYSE:NTR)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 49.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,704 shares of the company’s stock after selling 12,524 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Nutrien were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in Nutrien by 51.3% during the third quarter. The Manufacturers Life Insurance Company now owns 6,853,165 shares of the company’s stock worth $425,881,000 after purchasing an additional 2,322,679 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in Nutrien by 18,312.9% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,595,295 shares of the company’s stock worth $89,862,000 after purchasing an additional 1,586,631 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Nutrien by 544.3% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,361,282 shares of the company’s stock worth $84,794,000 after purchasing an additional 1,150,000 shares during the last quarter. TD Asset Management Inc lifted its stake in Nutrien by 15.0% during the third quarter. TD Asset Management Inc now owns 7,175,994 shares of the company’s stock worth $445,187,000 after purchasing an additional 933,517 shares during the last quarter. Finally, FMR LLC lifted its stake in Nutrien by 15.4% during the third quarter. FMR LLC now owns 6,369,027 shares of the company’s stock worth $393,325,000 after purchasing an additional 849,908 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Stock Up 0.0 %

NTR stock opened at $52.28 on Thursday. Nutrien Ltd. has a fifty-two week low of $47.90 and a fifty-two week high of $71.25. The business’s 50 day moving average price is $53.17 and its two-hundred day moving average price is $54.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.65 and a current ratio of 1.17. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.89.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter last year, the company posted $2.02 EPS. The firm’s revenue was down 24.8% on a year-over-year basis. As a group, analysts forecast that Nutrien Ltd. will post 3.82 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were paid a $0.54 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 4.13%. This is an increase from Nutrien’s previous quarterly dividend of $0.53. Nutrien’s dividend payout ratio is presently 85.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler lowered Nutrien from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $68.00 to $54.00 in a research note on Thursday, February 29th. Jefferies Financial Group assumed coverage on Nutrien in a research note on Tuesday, March 26th. They issued a “buy” rating and a $62.00 target price for the company. Stifel Nicolaus boosted their target price on Nutrien from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Wells Fargo & Company lowered their target price on Nutrien from $77.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Finally, BMO Capital Markets lowered their target price on Nutrien from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Nutrien presently has an average rating of “Hold” and a consensus target price of $67.95.

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.