Nutrien Ltd. (NYSE:NTR – Get Free Report) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 5,310,769 shares, an increase of 89.5% from the May 31st total of 2,802,286 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 3,204,984 shares, the short-interest ratio is currently 1.7 days.
Hedge Funds Weigh In On Nutrien
Several hedge funds and other institutional investors have recently made changes to their positions in the business. VectorGlobal IAG Inc. purchased a new position in Nutrien in the first quarter valued at about $931,000. Western Wealth Management LLC raised its holdings in shares of Nutrien by 13.7% during the 1st quarter. Western Wealth Management LLC now owns 4,207 shares of the company’s stock valued at $317,000 after buying an additional 506 shares during the period. Parallel Advisors LLC raised its holdings in shares of Nutrien by 71.1% during the 1st quarter. Parallel Advisors LLC now owns 3,081 shares of the company’s stock valued at $233,000 after buying an additional 1,280 shares during the period. NewEdge Advisors LLC lifted its position in Nutrien by 30.2% during the 1st quarter. NewEdge Advisors LLC now owns 9,315 shares of the company’s stock worth $703,000 after acquiring an additional 2,159 shares in the last quarter. Finally, First Nebraska Trust Co purchased a new position in Nutrien in the 1st quarter worth approximately $961,000. Institutional investors and hedge funds own 63.10% of the company’s stock.
Wall Street Analysts Forecast Growth
NTR has been the topic of a number of analyst reports. TD Securities restated a “buy” rating on shares of Nutrien in a research report on Wednesday, May 6th. Morgan Stanley increased their price target on Nutrien from $77.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Scotia upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday. Weiss Ratings raised Nutrien from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. Finally, BMO Capital Markets upped their target price on Nutrien from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.61.
Nutrien Trading Up 0.4%
Shares of NTR stock traded up $0.28 on Wednesday, reaching $63.23. 1,171,926 shares of the stock were exchanged, compared to its average volume of 3,343,157. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. The stock has a market cap of $30.30 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.56 and a beta of 0.60. The firm has a 50 day moving average of $68.56 and a two-hundred day moving average of $69.58. Nutrien has a 1-year low of $53.03 and a 1-year high of $85.36.
Nutrien (NYSE:NTR – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business posted $0.11 EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, research analysts anticipate that Nutrien will post 5.45 EPS for the current year.
Nutrien Dividend Announcement
The firm 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 annualized dividend and a dividend yield of 3.5%. Nutrien’s dividend payout ratio is presently 44.81%.
About Nutrien
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.
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