Peregrine Asset Advisers Inc. Grows Stock Position in Nutrien Ltd. (NYSE:NTR)

Peregrine Asset Advisers Inc. lifted its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 7.6% during the third quarter, Holdings Channel.com reports. The fund owned 15,205 shares of the company’s stock after acquiring an additional 1,080 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Nutrien were worth $731,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NTR. Central Pacific Bank Trust Division purchased a new stake in Nutrien during the 3rd quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in shares of Nutrien during the second quarter valued at $32,000. Trust Co. of Vermont increased its position in shares of Nutrien by 50.0% in the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after acquiring an additional 300 shares during the period. Covestor Ltd raised its stake in Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after acquiring an additional 233 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in Nutrien during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTR. The Goldman Sachs Group lowered Nutrien from a “buy” rating to a “neutral” rating and cut their price objective for the company from $69.00 to $53.00 in a report on Tuesday, September 10th. Mizuho cut their price target on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. TD Securities decreased their price objective on shares of Nutrien from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. UBS Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $51.00 in a report on Thursday, October 10th. Finally, BMO Capital Markets reduced their target price on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.44.

Nutrien Price Performance

Shares of Nutrien stock opened at $48.32 on Monday. The firm has a market cap of $23.86 billion, a PE ratio of 32.43, a P/E/G ratio of 1.58 and a beta of 0.82. The business has a 50-day moving average price of $47.98 and a 200 day moving average price of $50.60. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a twelve month low of $44.65 and a twelve month high of $60.87.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Sell-side analysts predict that Nutrien Ltd. will post 3.82 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.939 per share. This represents a $3.76 annualized dividend and a yield of 7.77%. This is an increase from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nutrien’s dividend payout ratio (DPR) is presently 144.97%.

Nutrien Company 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.