Bank of America Corp DE Purchases 150,464 Shares of Nutrien Ltd. (NYSE:NTR)

Bank of America Corp DE grew its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,685,886 shares of the company's stock after purchasing an additional 150,464 shares during the quarter. Bank of America Corp DE owned approximately 0.55% of Nutrien worth $120,193,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Moody National Bank Trust Division lifted its stake in shares of Nutrien by 127.1% during the fourth quarter. Moody National Bank Trust Division now owns 13,698 shares of the company's stock valued at $613,000 after buying an additional 7,665 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Nutrien during the fourth quarter valued at approximately $111,000. 180 Wealth Advisors LLC raised its stake in Nutrien by 7.1% during the fourth quarter. 180 Wealth Advisors LLC now owns 7,144 shares of the company's stock worth $320,000 after purchasing an additional 471 shares during the period. Covea Finance raised its stake in Nutrien by 21.9% during the fourth quarter. Covea Finance now owns 55,600 shares of the company's stock worth $2,485,000 after purchasing an additional 10,000 shares during the period. Finally, Foundation Resource Management Inc. purchased a new position in Nutrien during the fourth quarter worth approximately $7,744,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Price Performance

Shares of NYSE:NTR traded down $1.17 during trading on Wednesday, reaching $56.89. The company had a trading volume of 1,677,869 shares, compared to its average volume of 2,135,825. The firm's fifty day moving average is $52.24 and its 200 day moving average is $50.09. The firm has a market capitalization of $27.78 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. Nutrien Ltd. has a twelve month low of $43.70 and a twelve month high of $60.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

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

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 30th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, June 30th. Nutrien's dividend payout ratio is currently 203.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Nutrien from $56.00 to $59.00 and gave the stock an "equal weight" rating in a report on Monday. Barclays raised their target price on Nutrien from $59.00 to $61.00 and gave the company an "equal weight" rating in a report on Wednesday. CIBC lifted their price target on shares of Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a research note on Tuesday, February 25th. Piper Sandler increased their price target on shares of Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Finally, BNP Paribas upgraded Nutrien to a "strong-buy" rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.44.

Nutrien Company 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.