Nutrien Ltd. $NTR Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in shares of Nutrien Ltd. (NYSE:NTR) by 9.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,828 shares of the company’s stock after acquiring an additional 1,775 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nutrien were worth $1,213,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Harbour Investments Inc. increased its stake in shares of Nutrien by 94.8% during the first quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after purchasing an additional 348 shares in the last quarter. Huntington National Bank lifted its stake in Nutrien by 72.6% in the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after buying an additional 276 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Nutrien in the 2nd quarter worth about $49,000. Caitong International Asset Management Co. Ltd increased its stake in Nutrien by 1,074.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company’s stock worth $51,000 after buying an additional 935 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Nutrien during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Performance

Nutrien stock opened at $55.05 on Friday. The firm has a 50 day simple moving average of $57.54 and a 200-day simple moving average of $58.37. The stock has a market cap of $26.61 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. Nutrien Ltd. has a 1-year low of $43.69 and a 1-year high of $65.08.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.59 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts expect that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Nutrien’s dividend payout ratio is 58.76%.

Analyst Ratings Changes

NTR has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Nutrien from $61.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, September 9th. Zacks Research cut shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Scotiabank dropped their target price on shares of Nutrien from $65.00 to $63.00 and set a “sector perform” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nutrien in a research note on Wednesday. Finally, Bank of America reaffirmed a “neutral” rating and set a $67.00 price objective on shares of Nutrien in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.94.

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.