Glass Wealth Management Co LLC Sells 7,610 Shares of Nutrien Ltd. $NTR

Glass Wealth Management Co LLC decreased its stake in shares of Nutrien Ltd. (NYSE:NTR) by 16.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,765 shares of the company’s stock after selling 7,610 shares during the period. Nutrien comprises approximately 1.0% of Glass Wealth Management Co LLC’s holdings, making the stock its 29th largest position. Glass Wealth Management Co LLC’s holdings in Nutrien were worth $2,393,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nutrien by 65.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock valued at $1,253,000 after purchasing an additional 9,950 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Nutrien by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock valued at $343,000 after purchasing an additional 404 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Nutrien in the 1st quarter valued at about $516,000. Acadian Asset Management LLC bought a new stake in shares of Nutrien in the 1st quarter valued at about $54,000. Finally, Prudential Financial Inc. bought a new stake in shares of Nutrien in the 2nd quarter valued at about $203,000. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 4.4%

Shares of Nutrien stock opened at $71.34 on Tuesday. The firm’s 50 day moving average price is $74.81 and its 200-day moving average price is $67.14. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The company has a market cap of $34.30 billion, a P/E ratio of 14.53 and a beta of 0.64.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the firm earned $0.11 EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, sell-side analysts predict that Nutrien Ltd. will post 5.09 EPS for the current fiscal year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien’s payout ratio is presently 44.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NTR shares. BMO Capital Markets boosted their price target on shares of Nutrien from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. BNP Paribas Exane lowered shares of Nutrien from an “outperform” rating to a “neutral” rating in a report on Monday, February 23rd. UBS Group reduced their price target on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a report on Monday. Weiss Ratings lowered shares of Nutrien from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Scotiabank boosted their price target on shares of Nutrien from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and an average price target of $82.63.

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.