Scheer Rowlett & Associates Investment Management Ltd. Boosts Stake in Nutrien Ltd. (NYSE:NTR)

Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Nutrien Ltd. (NYSE:NTR) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 671,989 shares of the company’s stock after purchasing an additional 69,266 shares during the period. Nutrien comprises about 2.2% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 20th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned 0.14% of Nutrien worth $30,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Nutrien by 6.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock valued at $207,000 after acquiring an additional 263 shares during the last quarter. US Bancorp DE boosted its position in Nutrien by 15.5% in the 3rd quarter. US Bancorp DE now owns 23,574 shares of the company’s stock worth $1,133,000 after purchasing an additional 3,157 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Nutrien by 217.0% in the third quarter. Farther Finance Advisors LLC now owns 3,500 shares of the company’s stock worth $168,000 after acquiring an additional 2,396 shares during the period. Janney Montgomery Scott LLC boosted its position in Nutrien by 25.7% during the third quarter. Janney Montgomery Scott LLC now owns 97,635 shares of the company’s stock worth $4,692,000 after purchasing an additional 19,984 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new position in Nutrien during the third quarter worth $5,717,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Trading Down 0.2 %

Shares of Nutrien stock opened at $51.03 on Friday. Nutrien Ltd. has a 52-week low of $43.70 and a 52-week high of $60.87. The firm has a market capitalization of $24.96 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The company’s fifty day moving average price is $50.71 and its two-hundred day moving average price is $48.57.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. On average, analysts expect that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.27%. Nutrien’s dividend payout ratio (DPR) is presently 159.12%.

Analysts Set New Price Targets

NTR has been the subject of a number of analyst reports. UBS Group upped their price target on Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Mizuho lifted their price objective on Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Oppenheimer began coverage on Nutrien in a research report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of Nutrien in a report on Monday, February 24th. Finally, CIBC boosted their target price on Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.94.

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.