Gateway Investment Advisers LLC Decreases Position in Nutrien Ltd. (NYSE:NTR)

Gateway Investment Advisers LLC lessened its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,144 shares of the company’s stock after selling 4,899 shares during the period. Gateway Investment Advisers LLC’s holdings in Nutrien were worth $1,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTR. Bleakley Financial Group LLC lifted its holdings in shares of Nutrien by 5.4% during the 4th quarter. Bleakley Financial Group LLC now owns 16,776 shares of the company’s stock valued at $751,000 after purchasing an additional 855 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Nutrien during the 4th quarter valued at $210,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Nutrien by 15.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 53,540 shares of the company’s stock valued at $2,396,000 after purchasing an additional 6,988 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Nutrien by 71.7% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 74,055 shares of the company’s stock valued at $3,314,000 after acquiring an additional 30,925 shares during the period. Finally, Four Tree Island Advisory LLC acquired a new position in shares of Nutrien in the 4th quarter valued at $520,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

NTR has been the topic of several research reports. Mizuho upped their target price on Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Royal Bank of Canada upped their target price on Nutrien from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, May 12th. Bank of America upped their target price on Nutrien from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Wells Fargo & Company upped their target price on Nutrien from $56.00 to $59.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, CIBC upped their target price on Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.44.

Nutrien Trading Down 0.8%

Shares of Nutrien stock opened at $59.78 on Monday. The firm has a market capitalization of $29.15 billion, a PE ratio of 43.64, a P/E/G ratio of 1.19 and a beta of 0.81. Nutrien Ltd. has a twelve month low of $43.70 and a twelve month high of $60.84. The firm’s 50-day moving average price is $55.13 and its 200 day moving average price is $51.54. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $5.16 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, June 30th. Nutrien’s dividend payout ratio (DPR) is 203.74%.

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.