Norges Bank Takes Position in Nutrien Ltd. (NYSE:NTR)

Norges Bank bought a new position in shares of Nutrien Ltd. (NYSE:NTR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,413,461 shares of the company’s stock, valued at approximately $241,958,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in Nutrien during the fourth quarter worth about $27,000. HHM Wealth Advisors LLC lifted its holdings in 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 acquiring an additional 480 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after acquiring an additional 690 shares during the period. Asset Planning Inc acquired a new position in shares of Nutrien during the fourth quarter worth approximately $35,000. Finally, Exchange Traded Concepts LLC lifted its holdings in 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 purchasing an additional 416 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NTR shares. Oppenheimer began coverage on shares of Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price for the company. Piper Sandler increased their price target on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Barclays upped their price objective on shares of Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Nutrien in a report on Monday, February 24th. Finally, Scotiabank upped their target price on Nutrien from $60.00 to $62.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Nutrien Trading Down 1.5 %

NTR stock opened at $50.13 on Monday. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 36.59, 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. Nutrien Ltd. has a one year low of $43.70 and a one year high of $60.87. The company has a fifty day moving average price of $51.59 and a two-hundred day moving average price of $49.02.

Nutrien (NYSE:NTR) last released its earnings results 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). The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. Equities analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien’s payout ratio is 159.12%.

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.