MYDA Advisors LLC Takes Position in Nutrien Ltd. (NYSE:NTR)

MYDA Advisors LLC bought a new position in Nutrien Ltd. (NYSE:NTR) during the fourth quarter, Holdings Channel reports. The firm bought 27,000 shares of the company’s stock, valued at approximately $1,208,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTR. Natixis raised its holdings in shares of Nutrien by 22.2% during the 4th quarter. Natixis now owns 101,808 shares of the company’s stock worth $4,556,000 after acquiring an additional 18,521 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Nutrien during the fourth quarter valued at $7,284,000. Bank of Nova Scotia Trust Co. raised its stake in Nutrien by 1.6% during the fourth quarter. Bank of Nova Scotia Trust Co. now owns 221,318 shares of the company’s stock valued at $9,904,000 after purchasing an additional 3,414 shares in the last quarter. Beck Mack & Oliver LLC grew its stake in shares of Nutrien by 22.8% in the 4th quarter. Beck Mack & Oliver LLC now owns 201,248 shares of the company’s stock worth $9,006,000 after buying an additional 37,348 shares in the last quarter. Finally, Capital International Inc. CA bought a new stake in shares of Nutrien in the 4th quarter worth about $15,221,000. 63.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler lifted their price target on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. UBS Group cut their target price on Nutrien from $54.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday. Mizuho increased their price target on Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. BNP Paribas raised shares of Nutrien to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upgraded shares of Nutrien from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $40.00 to $50.00 in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.40.

Nutrien Stock Performance

Nutrien stock opened at $52.50 on Friday. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.87. The company has a market capitalization of $25.66 billion, a PE ratio of 38.32, a P/E/G ratio of 1.19 and a beta of 0.77. The company has a 50 day moving average price of $50.86 and a 200-day moving average price of $49.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm 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%. As a group, equities analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a $0.545 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.15%. Nutrien’s dividend payout ratio is currently 159.12%.

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.