Summit Financial LLC Invests $4.19 Million in Nutrien Ltd. (NYSE:NTR)

Summit Financial LLC purchased a new stake in shares of Nutrien Ltd. (NYSE:NTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 92,511 shares of the company’s stock, valued at approximately $4,189,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Nutrien in the 4th quarter valued at $241,958,000. Arrowstreet Capital Limited Partnership lifted its stake in Nutrien by 159.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,435,627 shares of the company’s stock valued at $242,976,000 after buying an additional 3,341,169 shares during the period. ARGA Investment Management LP boosted its holdings in Nutrien by 25.7% during the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company’s stock worth $270,396,000 after buying an additional 1,236,671 shares during the last quarter. Silchester International Investors LLP grew its position in shares of Nutrien by 9.5% during the 4th quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock worth $523,268,000 after buying an additional 1,009,895 shares during the period. Finally, Pacific Heights Asset Management LLC increased its stake in shares of Nutrien by 462.1% in the 4th quarter. Pacific Heights Asset Management LLC now owns 815,000 shares of the company’s stock valued at $36,471,000 after acquiring an additional 670,000 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Trading Down 0.9 %

NYSE NTR opened at $49.65 on Tuesday. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 36.24, 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. The stock’s 50 day moving average price is $51.56 and its two-hundred day moving average price is $49.04. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. As a group, analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal 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 issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien’s payout ratio is 159.12%.

Analyst Ratings Changes

Several research analysts recently weighed in on NTR shares. Scotiabank lifted their price objective on shares of Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Mizuho lifted their price target on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Piper Sandler upped their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Oppenheimer assumed coverage on Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. 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 has a consensus rating of “Hold” and an average price target of $60.00.

About Nutrien

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.