Pictet Asset Management Holding SA Grows Position in Nutrien Ltd. (NYSE:NTR)

Pictet Asset Management Holding SA increased its position in Nutrien Ltd. (NYSE:NTR) by 21.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,893 shares of the company’s stock after buying an additional 47,387 shares during the quarter. Pictet Asset Management Holding SA owned 0.05% of Nutrien worth $11,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in Nutrien in the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC boosted its holdings in Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares in the last quarter. Assetmark Inc. increased its position in Nutrien by 1,437.5% during the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc bought a new position in Nutrien in the 4th quarter worth $35,000. Finally, Exchange Traded Concepts LLC lifted its position 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 during the period. 63.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NTR shares. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $40.00 to $50.00 in a research note on Monday, January 13th. Oppenheimer initiated coverage on Nutrien in a research report on Thursday, December 12th. They issued an “outperform” rating and a $60.00 target price for the company. UBS Group lifted their price target on Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. 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 research report on Wednesday, March 5th. Finally, Piper Sandler lifted their price target on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Nutrien has a consensus rating of “Hold” and an average price target of $60.00.

Nutrien Price Performance

Shares of NYSE:NTR opened at $49.94 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The firm has a market cap of $24.41 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. The business has a 50-day simple moving average of $51.47 and a two-hundred day simple moving average of $49.07. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR) last released its quarterly earnings data 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). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.09 billion. On average, analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien’s payout ratio is currently 159.12%.

Nutrien 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.