Horizon Kinetics Asset Management LLC Trims Stake in Nutrien Ltd. (NYSE:NTR)

Horizon Kinetics Asset Management LLC reduced its position in Nutrien Ltd. (NYSE:NTR) by 78.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,026 shares of the company’s stock after selling 250,607 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Nutrien were worth $2,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC increased its position in shares of Nutrien by 2.1% during the fourth quarter. Uncommon Cents Investing LLC now owns 11,550 shares of the company’s stock worth $517,000 after acquiring an additional 235 shares during the period. Rhumbline Advisers increased its position in shares of Nutrien by 3.5% during the fourth quarter. Rhumbline Advisers now owns 7,398 shares of the company’s stock worth $331,000 after acquiring an additional 247 shares during the period. FFT Wealth Management LLC increased its position in shares of Nutrien by 0.9% during the fourth quarter. FFT Wealth Management LLC now owns 29,732 shares of the company’s stock worth $1,330,000 after acquiring an additional 277 shares during the period. Atria Investments Inc increased its position in shares of Nutrien by 2.0% during the third quarter. Atria Investments Inc now owns 14,636 shares of the company’s stock worth $703,000 after acquiring an additional 290 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Nutrien by 23.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,804 shares of the company’s stock worth $81,000 after acquiring an additional 348 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Price Performance

Shares of NTR opened at $50.82 on Monday. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 37.09, 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 $60.87. 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 company has a 50 day moving average of $51.26 and a two-hundred day moving average of $48.68.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. As a group, analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.29%. Nutrien’s payout ratio is currently 159.12%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research report on Monday, February 24th. Raymond James raised shares of Nutrien from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Oppenheimer initiated coverage on shares of Nutrien in a research note on Thursday, December 12th. They set an “outperform” rating and a $60.00 price objective on the stock. Mizuho increased their price objective on shares of Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group initiated coverage on shares of Nutrien in a research note on Thursday. They set a “sell” rating and a $53.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.13.

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.