Kornitzer Capital Management Inc. KS Has $8.45 Million Stock Position in Nutrien Ltd. (NYSE:NTR)

Kornitzer Capital Management Inc. KS boosted its stake in Nutrien Ltd. (NYSE:NTR) by 15.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 150,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Nutrien were worth $8,450,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Nutrien by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 18,052,214 shares of the company’s stock valued at $1,114,905,000 after buying an additional 332,190 shares during the last quarter. Deutsche Bank AG grew its position in shares of Nutrien by 1.5% during the 3rd 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 in the last quarter. Mackenzie Financial Corp grew its position in shares of Nutrien by 1.8% during the 4th quarter. Mackenzie Financial Corp now owns 13,331,450 shares of the company’s stock worth $751,381,000 after purchasing an additional 239,578 shares in the last quarter. Parnassus Investments LLC grew its position in shares of Nutrien by 1.3% during the 3rd quarter. Parnassus Investments LLC now owns 10,057,019 shares of the company’s stock worth $621,121,000 after purchasing an additional 131,418 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Nutrien by 0.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Trading Up 0.2 %

Shares of NTR traded up $0.13 during trading hours on Friday, hitting $52.78. 1,238,622 shares of the stock were exchanged, compared to its average volume of 2,045,139. Nutrien Ltd. has a fifty-two week low of $47.90 and a fifty-two week high of $72.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 0.65. The business has a 50-day moving average of $52.99 and a 200-day moving average of $54.31. The firm has a market capitalization of $26.10 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the business posted $2.02 earnings per share. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. On average, research analysts expect that Nutrien Ltd. will post 3.82 EPS for the current year.

Nutrien Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were given a dividend of $0.54 per share. This is a positive change from Nutrien’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, March 27th. Nutrien’s dividend payout ratio (DPR) is presently 85.38%.

Wall Street Analyst Weigh In

NTR has been the topic of a number of analyst reports. BMO Capital Markets decreased their target price on shares of Nutrien from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Piper Sandler downgraded 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 report on Thursday, February 29th. JPMorgan Chase & Co. downgraded shares of Nutrien from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $58.00 to $48.00 in a report on Friday, February 23rd. Wells Fargo & Company cut their price target on shares of Nutrien from $77.00 to $69.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Finally, HSBC cut their price target on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a report on Friday, March 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.95.

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.