Parkside Investments LLC Sells 35,255 Shares of Nutrien Ltd. (NYSE:NTR)

Parkside Investments LLC lessened its holdings in Nutrien Ltd. (NYSE:NTR) by 66.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,663 shares of the company’s stock after selling 35,255 shares during the quarter. Parkside Investments LLC’s holdings in Nutrien were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NTR. PNC Financial Services Group Inc. grew its stake in Nutrien by 11.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,900 shares of the company’s stock valued at $858,000 after purchasing an additional 1,381 shares during the period. Kestra Advisory Services LLC grew its stake in Nutrien by 23.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 13,927 shares of the company’s stock valued at $860,000 after purchasing an additional 2,616 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Nutrien in the 3rd quarter valued at $417,000. Envestnet Asset Management Inc. grew its stake in shares of Nutrien by 32.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 322,365 shares of the company’s stock worth $19,935,000 after acquiring an additional 78,203 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Nutrien by 8.9% during the 3rd quarter. Invesco Ltd. now owns 443,983 shares of the company’s stock worth $27,420,000 after acquiring an additional 36,391 shares during the period. Institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. HSBC cut their price target on Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, March 8th. Mizuho increased their price target on Nutrien from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. Jefferies Financial Group assumed coverage on Nutrien in a research note on Tuesday, March 26th. They set a “buy” rating and a $62.00 price target for the company. Wells Fargo & Company increased their price target on Nutrien from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, Wolfe Research assumed coverage on Nutrien in a report on Friday, March 1st. They issued an “outperform” rating and a $66.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.28.

Nutrien Trading Down 0.7 %

Nutrien stock traded down $0.34 during trading hours on Wednesday, reaching $51.78. The company had a trading volume of 558,548 shares, compared to its average volume of 1,871,725. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 0.53. Nutrien Ltd. has a 12-month low of $47.90 and a 12-month high of $69.12. The company has a 50-day moving average price of $54.93 and a 200 day moving average price of $53.77. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 1.70 and a beta of 0.87.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. The firm had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. Equities analysts forecast that Nutrien Ltd. will post 3.84 earnings per share for the current year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.17%. Nutrien’s dividend payout ratio is currently 126.32%.

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.