Princeton Global Asset Management LLC Lowers Stock Holdings in Nutrien Ltd. $NTR

Princeton Global Asset Management LLC reduced its stake in Nutrien Ltd. (NYSE:NTR) by 89.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,045 shares of the company’s stock after selling 8,565 shares during the period. Princeton Global Asset Management LLC’s holdings in Nutrien were worth $61,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Nutrien by 7.1% in the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Nutrien by 17.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock worth $436,137,000 after buying an additional 1,284,181 shares during the period. Mackenzie Financial Corp grew its position in shares of Nutrien by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock worth $389,860,000 after buying an additional 54,918 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Nutrien by 6.5% during the first quarter. Deutsche Bank AG now owns 7,568,805 shares of the company’s stock valued at $375,943,000 after buying an additional 463,748 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Nutrien by 48.7% in the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company’s stock valued at $347,319,000 after acquiring an additional 2,291,518 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NTR shares. UBS Group dropped their target price on shares of Nutrien from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. National Bankshares began coverage on shares of Nutrien in a report on Friday, September 5th. They set a “sector perform” rating and a $64.00 price objective on the stock. Zacks Research lowered Nutrien from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutrien in a research report on Wednesday, October 8th. Finally, Bank of America reissued a “neutral” rating and issued a $67.00 price target on shares of Nutrien in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.78.

Nutrien Stock Performance

Shares of NTR stock opened at $57.58 on Tuesday. The business’s fifty day simple moving average is $57.80 and its 200-day simple moving average is $57.69. The company has a market cap of $27.94 billion, a PE ratio of 20.64, a PEG ratio of 0.94 and a beta of 0.82. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. Nutrien Ltd. has a 12-month low of $43.69 and a 12-month high of $65.08.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm had revenue of $10.30 billion during the quarter, compared to analysts’ expectations of $10.40 billion. During the same quarter last year, the firm earned $2.34 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Monday, September 29th were paid a dividend of $0.545 per share. The ex-dividend date was Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.8%. Nutrien’s payout ratio is presently 78.14%.

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.