Glass Wealth Management Co LLC Reduces Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Glass Wealth Management Co LLC trimmed its position in Nutrien Ltd. (NYSE:NTR) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,305 shares of the company’s stock after selling 5,025 shares during the period. Nutrien comprises 1.3% of Glass Wealth Management Co LLC’s portfolio, making the stock its 28th biggest holding. Glass Wealth Management Co LLC’s holdings in Nutrien were worth $2,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC raised its stake in shares of Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after buying an additional 480 shares during the period. Asset Planning Inc bought a new position in shares of Nutrien in the fourth quarter worth about $35,000. Exchange Traded Concepts LLC raised its stake in shares of Nutrien by 96.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after buying an additional 416 shares during the period. Principal Securities Inc. raised its stake in shares of Nutrien by 138.1% in the fourth quarter. Principal Securities Inc. now owns 931 shares of the company’s stock worth $42,000 after buying an additional 540 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Nutrien in the fourth quarter worth about $67,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTR has been the topic of several recent research reports. UBS Group raised their price objective on Nutrien from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. TD Securities decreased their price objective on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Oppenheimer began coverage on Nutrien in a research note on Thursday, December 12th. They issued an “outperform” rating and a $60.00 price objective on the stock. Wells Fargo & Company lifted their target price on Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Finally, Mizuho lifted their target price on Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.76.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $48.51 on Wednesday. Nutrien Ltd. has a 52 week low of $43.70 and a 52 week high of $60.87. The stock has a market capitalization of $23.73 billion, a P/E ratio of 35.41, a PEG ratio of 1.19 and a beta of 0.81. The firm has a fifty day simple moving average of $50.33 and a two-hundred day simple moving average of $48.52. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

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

Nutrien Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.49%. Nutrien’s payout ratio is currently 159.12%.

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.