Wealthedge Investment Advisors LLC Purchases Shares of 33,694 Nutrien Ltd. (NYSE:NTR)

Wealthedge Investment Advisors LLC acquired a new stake in Nutrien Ltd. (NYSE:NTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,694 shares of the company's stock, valued at approximately $1,508,000.

A number of other institutional investors also recently bought and sold shares of NTR. Norges Bank acquired a new position in Nutrien in the fourth quarter valued at $241,958,000. Arrowstreet Capital Limited Partnership increased its stake in Nutrien by 159.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,435,627 shares of the company's stock valued at $242,976,000 after purchasing an additional 3,341,169 shares during the period. ARGA Investment Management LP increased its stake in Nutrien by 25.7% in the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company's stock valued at $270,396,000 after purchasing an additional 1,236,671 shares during the period. Barclays PLC increased its stake in Nutrien by 192.7% in the fourth quarter. Barclays PLC now owns 411,056 shares of the company's stock valued at $18,395,000 after purchasing an additional 854,543 shares during the period. Finally, Deutsche Bank AG increased its stake in Nutrien by 11.3% in the fourth quarter. Deutsche Bank AG now owns 7,105,057 shares of the company's stock valued at $317,951,000 after purchasing an additional 721,935 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTR has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of Nutrien from $59.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. TD Securities boosted their price target on shares of Nutrien from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. BNP Paribas upgraded shares of Nutrien to a "strong-buy" rating in a research note on Wednesday, April 9th. Bank of America boosted their price target on shares of Nutrien from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Berenberg Bank boosted their price target on shares of Nutrien from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $61.44.

Nutrien Price Performance

NTR traded up $0.27 on Friday, hitting $59.05. 2,553,457 shares of the company were exchanged, compared to its average volume of 2,153,754. 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 fifty day moving average is $54.14 and its 200 day moving average is $50.98. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.50. The firm has a market capitalization of $28.83 billion, a P/E ratio of 43.10, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company's quarterly revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be given a dividend of $0.545 per share. The ex-dividend date is Monday, June 30th. This represents a $2.18 annualized dividend and a yield of 3.69%. Nutrien's payout ratio is currently 203.74%.

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.