Hardy Reed LLC Makes New $236,000 Investment in Nutrien Ltd. (NYSE:NTR)

Hardy Reed LLC acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 4,907 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds have also recently modified their holdings of the company. CORDA Investment Management LLC. increased its holdings in Nutrien by 7.0% in the 3rd quarter. CORDA Investment Management LLC. now owns 494,745 shares of the company’s stock valued at $23,777,000 after acquiring an additional 32,541 shares during the last quarter. Goodman Financial Corp grew its position in shares of Nutrien by 4.6% during the third quarter. Goodman Financial Corp now owns 253,860 shares of the company’s stock valued at $12,201,000 after purchasing an additional 11,058 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Nutrien in the second quarter worth about $2,639,000. Cardinal Capital Management Inc. lifted its position in shares of Nutrien by 4.3% in the third quarter. Cardinal Capital Management Inc. now owns 564,078 shares of the company’s stock worth $27,139,000 after buying an additional 23,117 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in Nutrien by 335.0% during the third quarter. Stephens Inc. AR now owns 70,301 shares of the company’s stock valued at $3,379,000 after buying an additional 54,138 shares during the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Trading Down 2.0 %

NTR stock opened at $45.88 on Wednesday. Nutrien Ltd. has a 12 month low of $44.65 and a 12 month high of $60.87. The firm’s 50-day moving average is $47.99 and its 200 day moving average is $49.94. The company has a market capitalization of $22.66 billion, a PE ratio of 30.79, a P/E/G ratio of 1.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the business posted $0.35 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. On average, research analysts anticipate that Nutrien Ltd. will post 3.56 EPS for the current year.

Nutrien Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.939 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a yield of 8.19%. Nutrien’s payout ratio is 144.97%.

Analyst Upgrades and Downgrades

NTR has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a research note on Friday, September 20th. UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $51.00 in a research report on Thursday, October 10th. The Goldman Sachs Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. TD Securities reduced their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Barclays lowered their price target on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Nutrien has an average rating of “Hold” and an average target price of $60.33.

Nutrien Profile

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.