Sprott Inc. Acquires 1,944 Shares of Nutrien Ltd. (NYSE:NTR)

Sprott Inc. grew its stake in shares of Nutrien Ltd. (NYSE:NTR) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,892 shares of the company’s stock after purchasing an additional 1,944 shares during the quarter. Sprott Inc.’s holdings in Nutrien were worth $2,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning grew its stake in Nutrien by 1.3% during the third quarter. Creative Planning now owns 36,524 shares of the company’s stock valued at $1,755,000 after acquiring an additional 473 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Nutrien during the 3rd quarter valued at about $2,296,000. Assenagon Asset Management S.A. grew its position in shares of Nutrien by 17.9% during the third quarter. Assenagon Asset Management S.A. now owns 20,563 shares of the company’s stock valued at $989,000 after purchasing an additional 3,120 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of Nutrien by 24.2% in the third quarter. Forsta AP Fonden now owns 125,400 shares of the company’s stock worth $6,033,000 after purchasing an additional 24,400 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Nutrien by 6.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock worth $207,000 after buying an additional 263 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.

Analyst Upgrades and Downgrades

NTR has been the subject of several research analyst reports. Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and raised their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Piper Sandler upped their price target on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Oppenheimer initiated coverage on shares of Nutrien in a research note on Thursday, December 12th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of Nutrien from an “underweight” rating to a “neutral” rating and upped their target price for the company from $40.00 to $50.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.11.

Nutrien Stock Performance

NTR stock opened at $53.60 on Wednesday. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $60.87. The firm has a market cap of $26.25 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 1.19 and a beta of 0.81. The business’s fifty day simple moving average is $49.66 and its two-hundred day simple moving average is $48.35. 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 (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.07%. Nutrien’s payout ratio is 159.12%.

Nutrien Company 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.