Palouse Capital Management Inc. Sells 281 Shares of Nutrien Ltd. (NYSE:NTR)

Palouse Capital Management Inc. decreased its position in Nutrien Ltd. (NYSE:NTR) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,145 shares of the company’s stock after selling 281 shares during the quarter. Nutrien accounts for 1.8% of Palouse Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. Palouse Capital Management Inc.’s holdings in Nutrien were worth $2,640,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Nutrien in the 4th quarter worth approximately $27,000. Assetmark Inc. boosted its holdings in shares of Nutrien by 1,437.5% in the 4th 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 purchased a new position in shares of Nutrien in the 4th quarter worth approximately $35,000. Principal Securities Inc. boosted its holdings in shares of Nutrien by 138.1% in the 4th quarter. Principal Securities Inc. now owns 931 shares of the company’s stock worth $42,000 after purchasing an additional 540 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Nutrien by 4,866.7% in the 1st quarter. GAMMA Investing LLC now owns 1,043 shares of the company’s stock worth $52,000 after purchasing an additional 1,022 shares during the period. Institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

NTR has been the subject of a number of recent research reports. Scotiabank cut Nutrien from an “outperform” rating to a “sector perform” rating and set a $62.00 target price for the company. in a report on Thursday, May 22nd. TD Securities lifted their target price on Nutrien from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Barclays lifted their target price on Nutrien from $59.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Berenberg Bank lifted their target price on Nutrien from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group lifted their target price on Nutrien from $53.00 to $59.00 and gave the stock a “sell” rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.44.

Nutrien Trading Up 4.0%

Shares of NYSE NTR opened at $62.87 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $56.35 and a two-hundred day simple moving average of $51.96. The firm has a market cap of $30.66 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. Nutrien Ltd. has a twelve month low of $43.70 and a twelve month high of $62.92.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $5.16 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, June 30th. Nutrien’s dividend payout ratio (DPR) is presently 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.