Nutrien Ltd. $NTR Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Nutrien stake by 5.9% in the first quarter, selling 194,414 shares and retaining 3.11 million shares worth approximately $234.5 million. Institutional investors collectively own 63.1% of the company.
• Analysts maintain a generally positive outlook, with Nutrien carrying a consensus “Moderate Buy” rating and an average price target of $81.84. Ratings range from UBS’s “Sell” to multiple “Overweight” and “Buy” recommendations.
• Nutrien reported first-quarter adjusted earnings of $0.51 per share and revenue of $6.05 billion, exceeding estimates and posting 18.5% year-over-year revenue growth. The company also pays a quarterly dividend of $0.55 per share, yielding about 3.3% annually.

Bank of America Corp DE trimmed its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,107,200 shares of the company's stock after selling 194,414 shares during the quarter. Bank of America Corp DE owned about 0.65% of Nutrien worth $234,469,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of Nutrien by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 472,604 shares of the company's stock valued at $35,512,000 after buying an additional 12,509 shares during the period. Parvin Asset Management LLC grew its position in Nutrien by 4.0% in the first quarter. Parvin Asset Management LLC now owns 6,505 shares of the company's stock worth $491,000 after acquiring an additional 250 shares during the period. EverSource Wealth Advisors LLC grew its position in Nutrien by 77.3% in the first quarter. EverSource Wealth Advisors LLC now owns 1,743 shares of the company's stock worth $132,000 after acquiring an additional 760 shares during the period. Recurrent Investment Advisors LLC increased its stake in Nutrien by 4.6% during the first quarter. Recurrent Investment Advisors LLC now owns 52,360 shares of the company's stock worth $3,951,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Nutrien by 688.1% in the first quarter. Empowered Funds LLC now owns 41,026 shares of the company's stock valued at $3,096,000 after purchasing an additional 35,820 shares during the period. Hedge funds and other institutional investors own 63.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NTR. JPMorgan Chase & Co. boosted their price objective on shares of Nutrien from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Bank of America raised shares of Nutrien from a "neutral" rating to a "buy" rating and set a $82.00 price target on the stock in a research note on Thursday, April 30th. UBS Group decreased their price objective on shares of Nutrien from $67.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, May 11th. Barclays lowered their price objective on shares of Nutrien from $85.00 to $81.00 and set an "overweight" rating for the company in a research report on Monday, July 27th. Finally, Mizuho decreased their price target on Nutrien from $77.00 to $75.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.84.

Nutrien Stock Performance

NYSE:NTR opened at $65.89 on Tuesday. The company has a fifty day simple moving average of $66.31 and a two-hundred day simple moving average of $70.47. The company has a market cap of $31.52 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.69 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The business had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.30 billion. During the same period last year, the firm earned $0.11 earnings per share. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities analysts anticipate that Nutrien Ltd. will post 5.01 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. Nutrien's payout ratio is 44.81%.

Nutrien Profile

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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