Peregrine Asset Advisers Inc. Lowers Position in Nutrien Ltd. (NYSE:NTR)

Peregrine Asset Advisers Inc. trimmed its position in shares of Nutrien Ltd. (NYSE:NTR) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,275 shares of the company’s stock after selling 1,930 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Nutrien were worth $594,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC grew its position in Nutrien by 331.0% during 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 during the period. Asset Planning Inc purchased a new stake in shares of Nutrien during the 4th quarter worth about $35,000. Exchange Traded Concepts LLC grew its position in shares of Nutrien by 96.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after acquiring an additional 416 shares during the period. Principal Securities Inc. increased its stake in shares of Nutrien by 138.1% in the 4th quarter. Principal Securities Inc. now owns 931 shares of the company’s stock valued at $42,000 after purchasing an additional 540 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Nutrien in the 4th quarter worth about $67,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. CIBC reissued an “outperformer” rating and issued a $55.00 price objective (down from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Raymond James raised shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Mizuho boosted their price target on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday. Scotiabank increased their price objective on shares of Nutrien from $59.00 to $60.00 and gave the company a “sector outperform” rating in a report on Monday, February 10th. Finally, Piper Sandler boosted their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.39.

Nutrien Stock Performance

Shares of Nutrien stock opened at $52.68 on Friday. 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 business’s 50 day moving average price is $49.41 and its 200 day moving average price is $48.23. The company has a market cap of $25.80 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 1.17 and a beta of 0.81. Nutrien Ltd. has a one year low of $43.69 and a one year high of $60.87.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.09 billion. On average, research analysts predict that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 annualized dividend and a yield of 4.14%. Nutrien’s payout ratio is 157.67%.

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.