First Manhattan CO. LLC. Has $10.80 Million Holdings in Nutrien Ltd. (NYSE:NTR)

First Manhattan CO. LLC. decreased its stake in Nutrien Ltd. (NYSE:NTR) by 5.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 238,570 shares of the company’s stock after selling 14,878 shares during the period. First Manhattan CO. LLC.’s holdings in Nutrien were worth $10,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Nutrien in the 4th quarter valued at approximately $27,000. HHM Wealth Advisors LLC increased its stake in Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares in the last quarter. Assetmark Inc. raised its holdings in Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc bought a new position in shares of Nutrien during the fourth quarter worth $35,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after buying an additional 416 shares during the period. Institutional investors own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays lifted their target price on Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Mizuho increased their target price on Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. UBS Group lifted their price target on shares of Nutrien from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler increased their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, CIBC boosted their price objective on shares of Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.93.

Nutrien Trading Up 1.5 %

Shares of Nutrien stock opened at $55.59 on Friday. The stock has a market cap of $27.14 billion, a P/E ratio of 40.58, a P/E/G ratio of 1.19 and a beta of 0.79. 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 Ltd. has a 12-month low of $43.70 and a 12-month high of $60.87. The business’s 50 day moving average is $51.97 and its 200-day moving average is $49.95.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Equities research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be given a $0.545 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.92%. Nutrien’s payout ratio is 203.74%.

Nutrien 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.