Easterly Investment Partners LLC Makes New Investment in Nutrien Ltd. (NYSE:NTR)

Easterly Investment Partners LLC bought a new position in shares of Nutrien Ltd. (NYSE:NTR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 118,957 shares of the company’s stock, valued at approximately $5,717,000.

A number of other institutional investors have also recently bought and sold shares of the business. Lester Murray Antman dba SimplyRich grew its holdings in Nutrien by 2.3% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock worth $461,000 after acquiring an additional 202 shares during the period. FFT Wealth Management LLC grew its holdings in Nutrien by 0.8% during the 2nd quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock worth $1,488,000 after acquiring an additional 220 shares during the period. Covestor Ltd grew its holdings in Nutrien by 33.3% during 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 period. MONECO Advisors LLC grew its holdings in Nutrien by 2.4% during the 2nd quarter. MONECO Advisors LLC now owns 9,791 shares of the company’s stock worth $498,000 after acquiring an additional 233 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Nutrien by 6.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock worth $207,000 after acquiring an additional 263 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company lowered shares of Nutrien from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. BMO Capital Markets decreased their target price on Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Hsbc Global Res downgraded Nutrien from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Barclays cut their price objective on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Scotiabank lowered their target price on Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Monday, August 12th. Three equities research 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.44.

Nutrien Stock Down 0.6 %

Shares of NYSE:NTR traded down $0.28 during midday trading on Friday, reaching $48.66. The company had a trading volume of 526,983 shares, compared to its average volume of 1,943,434. Nutrien Ltd. has a 1-year low of $44.65 and a 1-year high of $60.87. The stock has a market cap of $24.03 billion, a PE ratio of 30.59, a P/E/G ratio of 1.66 and a beta of 0.82. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $47.97 and its 200 day moving average price is $50.65.

Nutrien (NYSE:NTR) last posted its quarterly 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). The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. Research analysts forecast that Nutrien Ltd. will post 3.82 EPS for the current fiscal year.

Nutrien Increases Dividend

The business also recently declared 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. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 7.72%. Nutrien’s payout ratio is 135.00%.

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.