Nutrien Ltd. (NYSE:NTR) Shares Bought by Syntax Research Inc.

Syntax Research Inc. raised its stake in Nutrien Ltd. (NYSE:NTR) by 53.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,524 shares of the company’s stock after buying an additional 16,262 shares during the quarter. Nutrien comprises about 2.2% of Syntax Research Inc.’s portfolio, making the stock its 17th biggest holding. Syntax Research Inc.’s holdings in Nutrien were worth $2,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Townsend & Associates Inc lifted its position in Nutrien by 27.8% in the third quarter. Townsend & Associates Inc now owns 163,942 shares of the company’s stock valued at $10,125,000 after buying an additional 35,690 shares during the last quarter. CIBC Asset Management Inc lifted its position in Nutrien by 2.5% in the third quarter. CIBC Asset Management Inc now owns 6,361,084 shares of the company’s stock valued at $394,047,000 after buying an additional 154,159 shares during the last quarter. Canoe Financial LP increased its stake in Nutrien by 64.6% during the third quarter. Canoe Financial LP now owns 75,945 shares of the company’s stock worth $4,690,000 after purchasing an additional 29,819 shares during the period. First Eagle Investment Management LLC increased its stake in Nutrien by 0.5% during the third quarter. First Eagle Investment Management LLC now owns 9,262,659 shares of the company’s stock worth $572,062,000 after purchasing an additional 48,230 shares during the period. Finally, Deutsche Bank AG increased its stake in Nutrien by 1.5% during the third quarter. Deutsche Bank AG now owns 14,708,135 shares of the company’s stock worth $908,374,000 after purchasing an additional 214,299 shares during the period. 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 recent research reports. Berenberg Bank cut their price target on shares of Nutrien from $67.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 8th. Royal Bank of Canada cut their price target on shares of Nutrien from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. TD Securities cut their price target on shares of Nutrien from $75.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Piper Sandler lowered shares of Nutrien from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $68.00 to $54.00 in a research note on Thursday, February 29th. Finally, Jefferies Financial Group initiated coverage on shares of Nutrien in a research note on Tuesday, March 26th. They set a “buy” rating and a $62.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.95.

Nutrien Stock Up 0.2 %

NTR traded up $0.08 on Monday, reaching $53.00. The company’s stock had a trading volume of 525,413 shares, compared to its average volume of 2,054,554. The stock has a 50 day moving average of $52.73 and a two-hundred day moving average of $54.54. The company has a quick ratio of 0.65, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $26.21 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 1.93 and a beta of 0.89. Nutrien Ltd. has a fifty-two week low of $47.90 and a fifty-two week high of $75.29.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.36 billion. Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the company earned $2.02 earnings per share. As a group, analysts forecast that Nutrien Ltd. will post 3.91 EPS for the current fiscal year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were issued a $0.54 dividend. This is an increase from Nutrien’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Wednesday, March 27th. Nutrien’s dividend payout ratio is presently 85.38%.

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.