Modern Wealth Management LLC Invests $209,000 in Nutrien Ltd. (NYSE:NTR)

Modern Wealth Management LLC acquired a new stake in Nutrien Ltd. (NYSE:NTR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,671 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds have also made changes to their positions in the stock. Fairway Wealth LLC acquired a new position in shares of Nutrien during the 4th quarter valued at $27,000. HHM Wealth Advisors LLC grew its holdings in Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after acquiring an additional 480 shares during the period. Assetmark Inc. raised its position in Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after acquiring an additional 690 shares in the last quarter. Asset Planning Inc acquired a new stake in Nutrien in the 4th quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Nutrien by 96.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after purchasing an additional 416 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NTR shares. Mizuho boosted their target price on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Barclays upped their price target on Nutrien from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Scotiabank raised their price objective on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. 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. Finally, JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and increased their price target for the company from $40.00 to $50.00 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Nutrien has an average rating of “Hold” and a consensus price target of $60.00.

Nutrien Stock Down 1.5 %

NTR stock opened at $50.13 on Friday. The company has a 50 day moving average of $51.59 and a two-hundred day moving average of $48.97. The company has a market cap of $24.52 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.19 and a beta of 0.81. Nutrien Ltd. has a 12-month low of $43.70 and a 12-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.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share (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 firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.09 billion. On average, equities analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued 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 4.35%. Nutrien’s dividend 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.