Geode Capital Management LLC Purchases 702,948 Shares of Nutrien Ltd. (NYSE:NTR)

Geode Capital Management LLC boosted its position in Nutrien Ltd. (NYSE:NTR) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,022,551 shares of the company’s stock after acquiring an additional 702,948 shares during the period. Geode Capital Management LLC owned 0.62% of Nutrien worth $137,202,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of Nutrien in the 4th quarter worth $27,000. HHM Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 480 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after buying an additional 690 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Nutrien during the fourth quarter worth about $35,000. Finally, Exchange Traded Concepts LLC raised its holdings 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 acquiring an additional 416 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Performance

NYSE:NTR opened at $47.58 on Tuesday. The company has a market capitalization of $23.26 billion, a P/E ratio of 34.73, a P/E/G ratio of 1.19 and a beta of 0.77. The business has a fifty day simple moving average of $51.20 and a two-hundred day simple moving average of $49.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. Nutrien Ltd. has a 1 year low of $43.70 and a 1 year high of $60.87.

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

Nutrien Cuts Dividend

The firm 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 yield of 4.58%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien’s dividend payout ratio (DPR) is presently 159.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTR. Mizuho boosted their price objective on Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Scotiabank upped their price target on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a research note on Monday, February 24th. Oppenheimer started coverage on shares of Nutrien in a research note on Thursday, December 12th. They issued an “outperform” rating and a $60.00 target price for the company. Finally, Piper Sandler raised 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 investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Nutrien has an average rating of “Hold” and a consensus price target of $60.00.

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.