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

Horizon Kinetics Asset Management LLC trimmed its stake in Nutrien Ltd. (NYSE:NTR) by 78.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,026 shares of the company’s stock after selling 250,607 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Nutrien were worth $2,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTR. Fairway Wealth LLC purchased a new stake in shares of Nutrien in the 4th quarter worth $27,000. HHM Wealth Advisors LLC increased its stake in shares of Nutrien by 331.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares in the last quarter. Assetmark Inc. increased its stake in shares of Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after purchasing an additional 690 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Nutrien in the 4th quarter worth $35,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Stock Up 1.5 %

Shares of NYSE NTR opened at $50.82 on Monday. The firm’s 50-day moving average price is $51.26 and its 200-day moving average price is $48.68. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 37.09, a P/E/G 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.

Nutrien (NYSE:NTR) last announced its earnings results 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). The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. On average, equities research analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Cuts Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on NTR. Scotiabank upped their target price on shares of Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Raymond James raised shares of Nutrien from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Piper Sandler upped their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Barclays upped their target price on shares of Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Finally, Mizuho upped 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.