Hedges Asset Management LLC Makes New $470,000 Investment in Nutrien Ltd. (NYSE:NTR)

Hedges Asset Management LLC purchased a new stake in shares of Nutrien Ltd. (NYSE:NTR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,500 shares of the company’s stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTR. Central Pacific Bank Trust Division bought a new position in Nutrien in the third quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Nutrien during the 2nd quarter valued at about $52,000. Larson Financial Group LLC lifted its stake in shares of Nutrien by 1,370.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock worth $77,000 after purchasing an additional 1,494 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of Nutrien by 113.4% in the third quarter. Cromwell Holdings LLC now owns 1,694 shares of the company’s stock worth $82,000 after buying an additional 900 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Nutrien by 56.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,680 shares of the company’s stock valued at $86,000 after buying an additional 605 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Trading Up 2.3 %

Shares of Nutrien stock opened at $53.81 on Friday. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $60.87. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $47.33 and a 200-day moving average price of $47.92. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 1.17 and a beta of 0.81.

Nutrien (NYSE:NTR) last announced its quarterly 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). The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. Nutrien’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Equities research analysts anticipate that Nutrien Ltd. will post 3.5 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a $0.939 dividend. This represents a $3.76 annualized dividend and a yield of 6.98%. The ex-dividend date was Tuesday, December 31st. This is a boost from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s payout ratio is currently 144.97%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays reiterated an “equal weight” rating and set a $56.00 price target (up previously from $55.00) on shares of Nutrien in a research note on Tuesday. Piper Sandler upgraded Nutrien from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $58.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. UBS Group cut Nutrien from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Finally, CIBC reissued an “outperformer” rating and issued a $55.00 target price (down from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.39.

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.