Farther Finance Advisors LLC Increases Stake in Nutrien Ltd. (NYSE:NTR)

Farther Finance Advisors LLC grew its position in Nutrien Ltd. (NYSE:NTR) by 27.6% during the 1st quarter, HoldingsChannel reports. The fund owned 4,627 shares of the company’s stock after purchasing an additional 1,002 shares during the period. Farther Finance Advisors LLC’s holdings in Nutrien were worth $229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NTR. Norges Bank purchased a new stake in shares of Nutrien in the fourth quarter valued at $241,958,000. Arrowstreet Capital Limited Partnership increased its stake in Nutrien by 159.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,435,627 shares of the company’s stock worth $242,976,000 after buying an additional 3,341,169 shares during the period. Barclays PLC increased its stake in Nutrien by 192.7% in the 4th quarter. Barclays PLC now owns 411,056 shares of the company’s stock worth $18,395,000 after buying an additional 854,543 shares during the period. Deutsche Bank AG increased its stake in Nutrien by 11.3% in the 4th quarter. Deutsche Bank AG now owns 7,105,057 shares of the company’s stock worth $317,951,000 after buying an additional 721,935 shares during the period. Finally, Geode Capital Management LLC increased its stake in Nutrien by 30.3% in the 4th quarter. Geode Capital Management LLC now owns 3,022,551 shares of the company’s stock worth $137,202,000 after buying an additional 702,948 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. CIBC raised their price target on shares of Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a research note on Tuesday, February 25th. Bank of America raised their price target on shares of Nutrien from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. TD Securities raised their price target on shares of Nutrien from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Wells Fargo & Company raised their price target on shares of Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Finally, Berenberg Bank raised their price target on shares of Nutrien from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.94.

Nutrien Stock Up 0.6%

Shares of Nutrien stock opened at $62.31 on Thursday. The firm’s 50 day moving average price is $57.22 and its 200-day moving average price is $52.29. The company has a quick ratio of 0.59, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. Nutrien Ltd. has a 52-week low of $43.70 and a 52-week high of $65.08. The company has a market cap of $30.35 billion, a P/E ratio of 58.24, a PEG ratio of 1.12 and a beta of 0.81.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share (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 analysts’ expectations of $5.16 billion. Nutrien had a return on equity of 6.08% and a net margin of 2.05%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts predict that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 30th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, June 30th. Nutrien’s dividend payout ratio (DPR) is presently 203.74%.

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.