Tidal Investments LLC Sells 22,942 Shares of Nutrien Ltd. (NYSE:NTR)

Tidal Investments LLC reduced its position in shares of Nutrien Ltd. (NYSE:NTR) by 69.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,969 shares of the company’s stock after selling 22,942 shares during the period. Tidal Investments LLC’s holdings in Nutrien were worth $479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in Nutrien in the 3rd quarter valued at about $28,000. Andra AP fonden acquired a new position in Nutrien during the 2nd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Nutrien in the 2nd quarter valued at about $52,000. Rothschild Investment LLC acquired a new position in Nutrien in the second quarter valued at approximately $72,000. Finally, Larson Financial Group LLC boosted its stake in Nutrien by 1,370.6% in the third quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock valued at $77,000 after acquiring an additional 1,494 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Trading Up 1.2 %

NTR stock opened at $44.58 on Monday. 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 company has a market capitalization of $21.95 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. Nutrien Ltd. has a 52 week low of $43.87 and a 52 week high of $60.87. The company’s 50-day simple moving average is $47.48 and its 200 day simple moving average is $48.59.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutrien Ltd. will post 3.5 earnings per share for the current year.

Nutrien Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.939 per share. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 8.43%. Nutrien’s dividend payout ratio (DPR) is currently 144.97%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Nutrien in a research report on Thursday, December 12th. They issued an “outperform” rating and a $60.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $60.00 target price on shares of Nutrien in a report on Friday, September 20th. UBS Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $51.00 in a research note on Thursday, October 10th. TD Securities dropped their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.95.

About Nutrien

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.