Hikari Power Ltd Sells 66,310 Shares of Nutrien Ltd. $NTR

Hikari Power Ltd reduced its position in Nutrien Ltd. (NYSE:NTR) by 30.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the company’s stock after selling 66,310 shares during the quarter. Nutrien makes up about 1.0% of Hikari Power Ltd’s holdings, making the stock its 16th largest position. Hikari Power Ltd’s holdings in Nutrien were worth $11,319,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Montag A & Associates Inc. grew its stake in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Evolution Wealth Management Inc. bought a new stake in Nutrien in the 1st quarter valued at about $32,000. Sfam LLC purchased a new stake in Nutrien during the fourth quarter valued at about $37,000. Eastern Bank lifted its holdings in Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Nutrien by 97.2% during the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after purchasing an additional 347 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NTR shares. TD Securities reiterated a “buy” rating on shares of Nutrien in a research note on Wednesday, May 6th. Wells Fargo & Company raised shares of Nutrien from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $77.00 to $100.00 in a report on Friday, March 13th. Bank of America upgraded shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Berenberg Bank set a $65.00 target price on shares of Nutrien and gave the company a “hold” rating in a report on Wednesday, June 10th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.94.

Nutrien Price Performance

NTR stock opened at $66.73 on Thursday. The firm has a 50 day moving average of $67.73 and a 200-day moving average of $69.70. The firm has a market capitalization of $31.98 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.60 and a beta of 0.62. Nutrien Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm posted $0.11 EPS. Nutrien’s revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts predict that Nutrien Ltd. will post 5.45 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. Nutrien’s dividend payout ratio is presently 44.81%.

Nutrien Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.