Nutrien (NYSE:NTR) Hits New 1-Year High – Here’s What Happened

Nutrien Ltd. (NYSE:NTR)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $71.81 and last traded at $70.18, with a volume of 2328706 shares traded. The stock had previously closed at $70.88.

Analysts Set New Price Targets

NTR has been the topic of a number of recent research reports. Mizuho lifted their price objective on shares of Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. UBS Group increased their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Wells Fargo & Company initiated coverage on Nutrien in a research report on Tuesday, November 11th. They issued an “equal weight” rating and a $64.00 price target on the stock. Morgan Stanley raised Nutrien from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $77.00 in a research note on Wednesday, January 14th. Finally, Bank of America reaffirmed a “neutral” rating and set a $67.00 price objective on shares of Nutrien in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nutrien has an average rating of “Hold” and an average price target of $65.88.

Nutrien Trading Down 1.0%

The firm has a market capitalization of $33.83 billion, a price-to-earnings ratio of 18.92 and a beta of 0.72. The business’s 50 day moving average price is $61.69 and its 200-day moving average price is $59.24. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.41 and a quick ratio of 0.89.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Nutrien had a return on equity of 7.54% and a net margin of 6.79%.The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Equities analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were issued a $0.545 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.18 dividend on an annualized basis and a yield of 3.1%. Nutrien’s dividend payout ratio (DPR) is 58.76%.

Hedge Funds Weigh In On Nutrien

A number of large investors have recently made changes to their positions in NTR. Smith Moore & CO. boosted its holdings in Nutrien by 2.2% during the third quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock worth $449,000 after buying an additional 168 shares in the last quarter. Cascade Investment Advisors Inc. lifted its position in shares of Nutrien by 0.6% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 30,855 shares of the company’s stock valued at $1,811,000 after acquiring an additional 185 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in shares of Nutrien by 1.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,535 shares of the company’s stock worth $619,000 after acquiring an additional 193 shares in the last quarter. AMG National Trust Bank grew its holdings in shares of Nutrien by 4.0% in the 3rd quarter. AMG National Trust Bank now owns 4,986 shares of the company’s stock worth $293,000 after acquiring an additional 193 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in Nutrien by 1.5% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,146 shares of the company’s stock valued at $772,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.