Private Advisor Group LLC Buys Shares of 17,370 Nutrien Ltd. (NYSE:NTR)

Posted by Defense World Staff on Aug 28th, 2023

Private Advisor Group LLC bought a new stake in Nutrien Ltd. (NYSE:NTR – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,370 shares of the company’s stock, valued at approximately $1,283,000.

A number of other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Nutrien by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,985,300 shares of the company’s stock valued at $1,605,586,000 after purchasing an additional 1,811,511 shares in the last quarter. Deutsche Bank AG raised its position in shares of Nutrien by 17.7% during the 4th quarter. Deutsche Bank AG now owns 14,253,663 shares of the company’s stock valued at $1,040,945,000 after acquiring an additional 2,138,837 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Nutrien by 2.4% during the 1st quarter. Mackenzie Financial Corp now owns 11,476,758 shares of the company’s stock valued at $847,514,000 after acquiring an additional 274,326 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Nutrien by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 8,519,091 shares of the company’s stock valued at $622,149,000 after acquiring an additional 102,276 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Nutrien during the 4th quarter valued at approximately $409,603,000. 62.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTR. Stifel Nicolaus dropped their price target on Nutrien from $75.00 to $73.00 in a research report on Friday, June 30th. Bank of America dropped their price target on Nutrien from $94.00 to $85.00 in a research report on Thursday, June 8th. Mizuho dropped their price target on Nutrien from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. Wells Fargo & Company upgraded Nutrien from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $62.00 to $82.00 in a research note on Monday, July 24th. Finally, Credit Suisse Group lowered their price objective on Nutrien from $70.00 to $60.00 in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.84.

Read Our Latest Stock Report on NTR

Nutrien Trading Up 0.2 %

Shares of Nutrien stock opened at $60.96 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.92. The business has a fifty day simple moving average of $62.54 and a 200-day simple moving average of $66.89. Nutrien Ltd. has a fifty-two week low of $52.23 and a fifty-two week high of $102.73.

Nutrien (NYSE:NTR – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.30). Nutrien had a net margin of 11.05% and a return on equity of 16.41%. The company had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same period in the prior year, the company earned $5.85 earnings per share. The company’s revenue for the quarter was down 19.7% on a year-over-year basis. On average, equities analysts forecast that Nutrien Ltd. will post 6.68 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, September 28th. Nutrien’s dividend payout ratio is 29.78%.

Nutrien Profile

(Free Report)

Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.